Question: Crane Co. has a contract to sell 110 products to a customer for $12,100 ( $110 per product) at various times over a six-month period.

Crane Co. has a contract to sell 110 products to a customer for $12,100 ( $110 per product) at various times over a six-month period. After 80 products have been delivered, Crane modifies the contract by promising to deliver 30 extra products for an additiona! $2,850, or $95 per product (which is the stand-alone selling price of the products at the time of the contract modification). Crane regularly sells the products separately and they are considered to be distinct. Is this accounted for as a new contract? Your answer is incorrect. Calculate the total amount of revenue yet to be recognized

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