Question: On May 1 , 2 0 2 4 , Varga Tech Services signed a $ 7 5 , 0 0 0 consulting contract with Shaffer

On May

1, 2024,

Varga Tech Services signed a $

75, 000

consulting contract with Shaffer Holdings. The contract requires Varga to provide computer technology support services whenever requested over the perlod from May

1, 2024,

to April

30, 2025,

with Shaffer paying the entire $

75, 000

on May

1, 2024 .

How much revenue should Varga recognize in

2024 ?

Note: Do not round intermedlate calculation.

Revenu

On May 1,2024, Varga Tech Services signed a $75,000 consulting contract

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