E3-12 Allocation of transaction price and revenue recognition On November 1, 2019, Gerakos Corporation sold software and a six-month technical support contract to a customer for $80,000. Gerakos sells the same software without technical support for $60,000. It sells technical support for $30,000. Gerakos allocates the transaction price based on relative stand-alone values. Required: What amount of revenue does Gerakos recognize in 2019 and in 2020