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Allocating Transaction Price to Performance Obligations and Recording Sales Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Note: If
Allocating Transaction Price to Performance Obligations and Recording Sales Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Note: If a journal entry or a line of the journal entry isn't required for the transaction, select NA as the account names and leave the Dr and Cr answers blank zero a How should the transaction price be allocated among the performance obligations tabletablePerformanceObligationsTransaction Price as Stated,Standalone Selling Price Allocated Transaction Price roundedSoftware$Customer support,$$ b Prepare Software Supplier's journal entry to record sale of software to the customer and the entry for the first monthly payment.
Allocating Transaction Price to Performance Obligations and Recording Sales
Note: Carry all decimals in calculations; round the final answer to the nearest dollar.
Note: If a journal entry or a line of the journal entry isn't required for the transaction, select NA as the account names and leave the Dr and Cr answers blank zero
a How should the transaction price be allocated among the performance obligations
tabletablePerformanceObligationsTransaction Price as Stated,Standalone Selling Price Allocated Transaction Price roundedSoftware$Customer support,$$
b Prepare Software Supplier's journal entry to record sale of software to the customer and the entry for the first monthly payment.
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