CHAPTER 6 HW PART 2 i Saved Help Save & Exit Submit Check my work 16 Brief Exercise 6-25 (Algo) Timing of revenue recognition; licenses (LO6-7] 5 points Saar Associates sells two licenses to Kim & Company on September 1, 2021. First, in exchange for $107,000, Saar provides Kim with a copy of its proprietary investment management software, which Saar does not anticipate updating and which Kim can use permanently. Second, in exchange for $96,300, Saar provides Kim with a three-year right to market Kims financial advisory services under the name of Saar Associates, which Saar advertises on an ongoing basis. eBook Print The trade name Saar Associates is not well known in the marketplace and the owner provides no advertising or other benefits to a licensee of the Saar Associates trade name during the license period. References How much revenue will Saar recognize in 2021 under this arrangement if Saar reports under U.S. GAAP? (Do not round intermediate calculation.) Revenue