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I need help with this question Sanjecv enters into a contract offering variable consideration. The contract pays him 55 , 000 moath for six manths
I need help with this question
Sanjecv enters into a contract offering variable consideration. The contract pays him 55 , 000 moath for six manths of continuous consulting services in addition, thete is a 60 . chance the contract will pay an odditional $6.000 and a 40% chance the contract will pay an additonal $7,000, depending on the outcame of the cansulting contract 5 anjeev concludes that this contract qualifies for revenue recognition over time. assessiment of the chance the contract will poy him $7,000 to 70%. What ocjustiment to revenue should 50 jjecy recogntze to account for that change ts estumate? Note: Round intermediote calculations to whole dollers. Multiple Chaice Credit of $5.000 Deetin of 55,000 Detit or 4334 Ciedit of 5314 Step by Step Solution
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