Marge Industries entered into a contract. While it was underway, the contract had to be modified. At first, the company was going to treat it as a separate performance obligation, but at the last minute, they decided to use the prospective approach. What changes will this result in$?$

Select answer from the options below

Before and after the modification, the same amount of revenue will be recognized with both approaches, but after the modification using a prospective approach, a blended price will be used for the remaining sales.

The revenue recognized after modification will be higher than the revenue recognized before modification, causing the total revenue recognized to be higher.

A blended price will be used for sales before the modification, and a new contract will need to be written.

Different revenue amounts will be recognized before and after the modification, and after the modification, a blended price will be used for sales.$$