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2. Revenue Recognition - multiple element Wilks Company sells a plasma TV screen and installation to a customer for a joint price of $4,000. Wilks
2. Revenue Recognition - multiple element Wilks Company sells a plasma TV screen and installation to a customer for a joint price of $4,000. Wilks collects all of the cash up front on the contract-signing date. Wilks Company has generated the following information regarding sales of this type. The cost of plasma TV screen is $3,000. The sales price of plasma TV screen if sold separately is $3,570. The sales price of the installation if sold separately $680. When a customer pays the cash for the TV and installation, how much revenue will be allocated to the plasma TV and to the installation
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