Lily Ltd sells machines and also offers installation and technical support services. The individual selling price of products and services are shown below. $Sales price of goods $75$Installation $30$One year service $45$Lily sold a machine on $1$ May $2021,$ charging a reduced price of $$100,$ including installation and one years services. Lily offers discounts when customers purchase a package of products together. Required:Compute and explain the revenue recognition for Lilys sales in accordance with IFRS $15$ Revenue from Contract with Customers for the year ended $31$ December $2021.$ Workings should be rounded to the nearest dollar $($$$)$