Refer to the Tablet Bundle A revenue arrangement in P18.1. In response to competitive pressure for Internet
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Instructions
a. Prepare the journal entries when the contract is signed on January 2, 2021, for the 40 extended contracts. Assume the modification does not result in a separate performance obligation.
b. Prepare the journal entries on December 31, 2021, for the 40 extended contracts (the first year of the revised 3-year contract).
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Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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