On 1 October 2020, Maximus sold a machine to a customer for 200,000 (excluding value added tax), and the customer paid in full when the machine was delivered on that date. In addition to the machine, Maximus agreed to provide maintenance for four years ending on 30 September 2024. Maximus has allocated 182,000 of the transaction price to the machine and 18,000 to the maintenance agreement. How much revenue should Maximus recognise from this sale in its income statement for the year to 31 December 2020?

Select one:

183,125

182,000

186,500

200,000