Jaguar Company sells service contracts that are paid immediately by the customer. Each contract is sold for P500. In the past few years, Jaguar provides services to their customers 30% evenly during the first year, 60% evenly the second year and 10% evenly during the final year.

For the years 2020 and 2021, 3,000 and 5,000 service contracts were sold, respectively. 

How much is the revenue recognized for 2021?

Answer rating: 100% (QA)

To compute the revenue recognized for 2021 we need to determine how many of the service contracts so... View the full answer