Maas LLP developed software that helps farmers to plow their fields in a manner that prevents erosion and maximizes the effectiveness of irrigation. Sunny Dale paid a licensing fee of $24,000 for a copy of the sortware. Although Sunny Dale can use the software as long as it wants, Maas expects that Sunny Dale will use the software for approximately 5 Years. Maas does not anticipate any further interaction with Sunny Dale following transfer of license.

How much revenue should Maas recognize in the first year of the contract?

Answer rating: 100% (QA)

Sunny D has purchased the software from Mass LLP The software can be used for app... View the full answer