MorningSun Pty Ltd$,$ a pioneering solar panel manufacturer and seller, was established in $2013$ in Melbourne. Owned by Cecilia, Egor, Eka, and David, the company has experienced significant growth since its inception on $20$ April $2013.$ Initially operating from a rented factory due to budget constraints, MorningSun has now expanded into a large proprietary company. It is registered for Goods and Services Tax $($GST$)$ and observes a financial year ending on $30$ June. Assuming the information provided below is related to the financial year ending on $30$ June $2023.$As of $1$ July $2022,$ MorningSun is considering a substantial investment in property and equipment to further its production capabilities. It purchases the following assets for $$411,400($GST inclusive$),$ with the fair value of assets listed as follows:$*$ Land: $$127,500*$ Building: $$255,000*$ Equipment: $$25,500$Total: $$408,000$Additional Costs: In addition to the purchase price, the acquisition of these assets incurs several other expenses:$*$ Legal fees for land registration: $$4,488($GST inclusive$)*$ Building rewiring costs: $$5,368($GST inclusive$)*$ One$-$year building insurance: $$4,620($GST inclusive$)*$ Equipment safety inspection fees: $$2,310($GST inclusive$)$Further$,$ the building includes the following necessary fixture and fittings costs to ensure that the site is in a workable condition:$*$ Installation of industrial fans on the building: $$9,680($GST inclusive$)*$ Installation of a surveillance system: $$11,440($GST inclusive$)*$ Installation of a cooling$/$heating system: $$14,080($GST inclusive$)$Estimated Useful Life and Residual Values:$*$ The building is expected to last $20$ years, with an estimated residual value of $$72,000.*$ The equipment is expected to have a useful life of $5$ years, with an expected usage of $10,000$ hours and a residual value of $$4,600.$ The projected equipment usage is detailed as follows: $1,760$ hours in Year $1,2,140$ hours in Year $2,2,300$ hours in Year $3,2,000$ hours in Year $4,$ and $1,800$ hours in Year $5.$MorningSun currently adopts the cost model for measuring all existing non$-$current assets. However, due to a significant increase in demand for its solar panels which are likely influenced by national wide green energy campaigns recently, the owners are considering changing the cost model to the revaluation model$\mathrm{.}7.**$Revenue Recognition$**$MorningSun entered into a contract on $10$ July $2022$ with HunterValley for the supply and installation of $180$ solar panels in a new construction. The total contract price is $$35,640($GST inclusive$).$ This amount also includes one free service of solar panels $5$ months from the date of installation. The standalone price of one solar panel is $$198($GST Inclusive$),$ the standalone price of installing one solar panel is $$69\mathrm{.}3($GST Inclusive$),$ and the standalone price of servicing one panel is $$49\mathrm{.}5($GST Inclusive$).$ Half of $180$ solar panels were installed on $11$ August $2022$ and the remaining half was installed one week later. HunterValley made the full payment on $20$ July $2022.$Required: With reference to AASB$15$ Revenue from Contracts with Customers, apply the five$-$step process for revenue recognition for the contract with HunterValley. Discuss critically whether and how revenue can be recognised within each of the five steps and show calculations $($if any$).$ Also, provide double$-$entries to record all related transactions. Narrations are not required.