Company A provides a bundled service offering to Customer B. It charges Customer B $90,000 for the initial connection to its network and two ongoing services access to the network for 1 year and on-call troubleshooting advice for that year.

Customer B pays the $90,000 upfront, on 1 July 2019. Company A determines that, if it were to charge a separate fee for each service if sold separately, the fee would be:

Connection fee $20,000

Access fee $40,000

Troubleshooting $60,000

The end of Company As reporting period is 30 June 2020.

Required

Prepare the journal entries to record this transaction in accordance with AASB 15 Revenue from Contracts with Customers for the 1 July 2019 and for the year ended 30 June 2020, assuming Company A applies the relative fair value approach. (Show all workings).