Able Bakers sells cooking supplies and training services. Under acontract with Putnam Restaurants, Able will provide $60,000 of supplies and three months of training for $2,000 per month. Able's right to receive consideration for cooking supplies is conditional upon providing one month of training services before they can bill the customer for the supplies. When Able delivers the supplies on the first day of training services, Able will recognize

$60,000 receivable.

$60,000 contract asset.

$60,000 contract liability.

$60,000 unearned revenue.