hard · Financial Accounting revenue-recognition
A firm sells a bundle for 120,000 comprising a software license (Standalone Selling Price [SSP] of 80,000, 24-month term) and consulting services (SSP of 60,000, 3-month term).
Under ASC 606, what is the total revenue recognized in Month 1 of the contract?
- 20,000
- 33,333
- 15,000
- 23,333
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