I just need part 2 answered- where the red boxes are.

On January 1 , 2017, Loud Company enters into a 2-year contract with a customer for an unlimited talk and 5 Ga date wireless plan for $65 per month. The contract includes a smartphone for which the customer pays S2gg_ Loud also sells the smartphone and monthly service plan separately, charging S64g for the smartphone end 865 for the monthly service for the unlimited talk and 5 GB data wireless plam On July 1 , 2017, the customer realizes that she needs less date in her wireless plan end downgrades to the unlimited talk and 2 GB data plan for the remaining term of the contract (18 monthsl The unlimited talk and 2 GB data plan is priced at S55 per month. The S55 per month is Loud's current stand-alone price for this plan that is available to all customers. Required: 1 How should Loud eccount for this contract modficetjon? 2 Provide Loud's new monthly revenue recognition journal enn