A company named Twos Up provides mobile phone services. Twos Up sells two year contract plans. Customers must pay a non-refundable up-front activation fee of $60 on the date they enter into the contract, plus a monthly usage fee of $30 (to a total of $720 over the life of the contract). The costs to activate the phone service are nominal (i.e. it costs Two Up nothing to activate the contracts), and he monthly usage-fee more than covers operating costs.

d) If a customer buys a two-year contract plan from Twos Up and pays the $60 activation fee on 1 March 2016, when should this be recognised as revenue (Justify your answer)?