Question: TechGate has signed a new two-year contract with a customer providing access to TechGate's cloud-based software engineering tool. TechGate operates on an accrual basis and

TechGate has signed a new two-year contract with a customer providing access to TechGate's cloud-based software engineering tool. TechGate operates on an accrual basis and will invoice the customer $12,000 for full amount of the first-year subscription on 1/1/22. The first year of the agreement runs from 1/1/22 to 12/31/22. At the end of January 2022, how much revenue should TechGate recognize from the agreement?

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