On 1 July 2020, Guitars Built By You Pty, signs an agreement with Instruments For Bands to provide 10 weekly lessons on how to build a guitar on YouTube and 10 kit guitars.The contract price for this amounted to $16,500 (GST Inc), on credit terms n/30 for the You Tube videos on how to build kit guitars.This amount also includes one free service of the guitars to be performed twelve months after the delivery of the guitar kits to Instruments for Bands. The standalone price for the 10 weekly YouTube lessons is $11,000 (GST Inc). The twelve-month service fee for the guitars is usually $1,100 (GST Inc).Instruments for Bands paid the full amount on 20 July 2020 for the guitar kits and YouTube lessons. The guitar kits were delivered on 25 July 2020. By 31 December 2020, "6" YouTube lessons were conducted.

With reference to AASB15 Revenue from Contracts with Customers, apply the five-step process for revenue recognition in regard to the contract with Instruments for Bands. List each of the five steps and show and calculations