M6-12 Allocating Transaction Price to Performance Obligations LO 6-5 of Round gross profit percentages to one decimal place. goods sold), (c) gross profit percentage before shrinkage, and (d) alate (a) the cost of shrinkage, (b) an A company that usually sells satellite TV equipment for $50 and two years of satellite TV service for $450 has a special, time-limited offer in which it sells the equipment for $300 and gives the two years of satellite service for "free." If the company sells one of these packages on July 1, how much revenue should the company recognize on July 1 when it delivers the equipment and receives the full price in cash?

M6-12 Allocating Transan Price to Performance Obligations A company that usually sells satellite TV equipment for $50 and two years of satellite TV service for $450 has a special, time-limited offer in which it sells the equipment for $300 and gives the two years of satellite service for "free," If the company sells one of these packiges on M6-13 Preparing a Multistep Income Statement LO 6-6