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An invoice has been created on January 1 for a three-year contract. The amount is $720,000. When the item was set up for revenue recognition,
An invoice has been created on January 1 for a three-year contract. The amount is $720,000. When the item was set up for revenue recognition, the service duration was set for 36 and the service interval is daily. What is the rounded amount of revenue recognition recorded for the month of the following December (a 5-week month)-assuming there are no leap years in this period? a. $658 b. $20,384 c. $20,000 d. $23,077
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