- -- ----- -- --- ------- 9. What is goodwill? Conceptually, how do you determine goodwill impairment for? (pts) 10. ABC Electric is a company that sells machines. In a contract with customer B, the company delivers a machine on 10/1 and is scheduled to install it on 11/1. The total fee (for machine & installation) of $10,000 is due upon delivery of the machine. However, if the machine is not successfully installed by the end of Nov, customer B may cancel the installation portion of the contract and receive a $2000 refund. Customer B has no general refund rights. a. Assuming the machines are also sold by other companies, should the machine and install be accounted for as single or separate units of accounting? (5pts); b. How much revenue can ABC Electric recognize upon the delivery of the machine? (5pts)