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ABC Corporation provides services on a subscription basis, with customers paying annually in advance. Suppose $100,000 worth of subscription revenue was received in December 2023

ABC Corporation provides services on a subscription basis, with customers paying annually in advance. Suppose $100,000 worth of subscription revenue was received in December 2023 for services to be rendered evenly over the following year. How should this revenue be recognized in the financial statements for 2023?

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