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the com 10 17.6 the con 10 m s ). The unlimited text messaging plan is priced at $15 per month ing for this plan available to all customers. Required: 1. How should Loud account for this contract modification? 2. Provide Loud's new monthly revenue recognition journal entry. 17.8 Identifying Performance Obligations Sanderson Construction Company provides a variety of construction 1173 services, ranging from general contracting services to specialized subcontracting services (e.g., electrical, plumo ing services). Sanderson entered into a contract to construct a building for a customer. The contract identities Sanderson as responsible for site preparation and all aspects of construction, including laying the foundation, fram ing, interior "rough-in" (e.g., plumbing, electrical, drywall), and exterior and interior finishing. Required: Identify Sanderson's performance obligations. t rading line of outdoor charcoal and