Question: IBM sold a mainframe computer to its customer for 60 monthly payments of $92,082.61, which totals $5,524,956.60. IBM also agreed to provide installation and training

IBM sold a mainframe computer to its customer for 60 monthly payments of $92,082.61, which totals $5,524,956.60. IBM also agreed to provide installation and training for the customer for no additional charges. According to the agreement the customer is not required to use IBM for installation and training. IBM estimated that the standalone installation and training sales prices are $50,000 and $68,000, respectively. IBM used a 4% annual interest rate in determining the 60 monthly payments. The customer decided to have IBM install and train its employees and IBM delivered the computer on July 1 and completed installation on October 31. Training will take place over the next 12 months. The date of delivery starts the customer's payment obligation to IBM and IBM's year end is December 31.

What is the total revenue in account for October 31st?

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