Apple introduced the iPhone Upgrade Program: https://www.apple.com/shop/iphone/iphone-upgrade-program; https://www.apple.com/legal/sales-support/iphoneupgrade_us/

Question:

What were the potential accounting implications for this program? Hint: organize your answer as for the Accounting treatment, the challenges, the effects on income statement and balance sheet). https://www.apple.com/legal/sales-support/iphoneupgrade_us/

answer should be 200 words only