Question
In accordance with the terms and conditions of the above-referenced Agreement between Company and Customer XYZ this Statement of Work (SOW) is amended to expand
In accordance with the terms and conditions of the above-referenced Agreement between Company and Customer XYZ this Statement of Work (SOW) is amended to expand the scope of work for additional users and increase the price as more fully described below. 1. Section 1. Statement of Work: Exhibit 1 is deleted in its entirety and replaced with Exhibit 1 to this SOW1, Amendment No. 1 dated 11/20/12, which is attached hereto and incorporated herein by this reference. 2. Section 3. Total Statement of Work Value: This section is deleted in its entirety and replaced with the following: The firm fixed price for the Software, Data, and Managed Services and Deliverables defined in the Statement of Work in Exhibit 1 is set forth in Table 1 below. Table 1: Software, Data, Managed Services and Professional Services Pricing Description Year 1 Year 2 Year 3 Invoicing Terms Software Licenses $224,000 $116,000 $116,000 Annual Data Licenses $256,420 $244,939 $246,109 Annual Managed Services $36,100 $89,200 $90,400 Initial setup and monthly fee Professional Services $279,090 $92,629 $62,816 Monthly invoicing based on percent complete Total Firm Fixed Price: $795,610 $542,768 $515,325 All other terms and conditions remain the same. ACCEPTED AND AGREED: can someone help me with how i can I can translate the information in this Table 1 into journal entries?
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