a. b. a. d. DITU Inc. a telecommunication company, entered into a contract with DUDirty Company on March 1, 2020. In line with the contact, Dudirty subscribes for DITU's monthly plan for 12 months and in return Dudirty receives a free Samsung Galaxy S20 Ultra from DITU. DUDirty will pay a monthly fee of P1,800. DUDirty gets the phone immediately after the contract signature. DITU sells the same phone for P3,600 and the same monthly plans for P1,200 per month without phone. 1 Identify the contract with customer - what kind of contract between DITU, Inc. and DUDirty Company? Oral Contract Written Contact Customary Business Practice d. No Contract 2 Identify the performance obligation - how many performance obligation? 1 - performance obligation: Network services (Monthly/Installment plan) b. 1-performance obligation: Samsung Galaxy S20 Ultra 2-performance obligations: Network Services (monthly/installment plan) and Samsung Galaxy S20 Ultra No performance obligation since there is no existing contract. Determine the transaction price - the total transaction price is? P3,600 b. P14,400 P18,000 P21,600 Allocate the Transaction Price - The allocated tansaction price to each performance obligation is? None, since there is no contract b. P14,400 network service and P3,500 for Samsung Galaxy S20 Ultra PO for network service and P18,000 for Samsung Galaxy S20 Ultra d. P17,250 for network service and P2,880 Samsung Galaxy S20 Ulba 5 Recognize revenue when (or as) an entity satisfies a performance obligation - Timing of revenue recognition? None, since there is no contact. b. Over time - Network service and for Samsung Galaxy S20 Ultra Over time - Network services and Point in time - Samsung Galaxy S20 Ultra Point in time - Network services and Over time - Samsung Galaxy S20 Ultra 3 a. d. a. C. . d