2. a. Apple Inc. developed software that helps coders manage their software in a neat manner. Billy J paid a licensing fee of $20,000 for a copy. Although Billy J is able to use the software for as long as he wants, Apple Inc. expects him to use it for roughly 5 years. Apple does not expect any additional interactions with Billy after the license is transferred. How much revenue should Apple recognize in the first year of the contract?

b. Apple Inc. issues a 10-year zero coupon bond on 1/1/2021 with a par value of $100 million and a market rate of interest of 8%. What is true of Apple Inc.'s journal entry on 12/31/2029?