On May 1, 2018, Varga Tech Services signed a $6,000 consulting contract with Shaffer Holdings. The contract
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On May 1, 2018, Varga Tech Services signed a $6,000 consulting contract with Shaffer Holdings. The contract requires Varga to provide computer technology support services whenever requested over the period from May 1, 2018, to April 30, 2019, with Shaffer paying the entire $6,000 on May 1, 2018. How much revenue should Varga recognize in 2018?
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This contract qualifies for revenue recognition over time because the performance obligati...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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