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A product and service are bundled together and sold to customers for $450. The fair values of the product and service are $350 and
A product and service are bundled together and sold to customers for $450. The fair values of the product and service are $350 and $150 respectively. At the time of contract signing, a contract asset is recorded. Ono journal entry is recorded. a note to the financial statements must be included. O a contract liability is recorded.
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Core concepts of accounting information systems
Authors: Jacob M. Rose, Mark G. Simkin, Carolyn Strand Norman
13th edition
978-1-119-0332, 1118742931, 978-1118742938
