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On August 15, 2021, Ceecret Enterprises signed an agreement to provide Fresh-from-Field Produce with a weighing system for a price of $112,735. The system included

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On August 15, 2021, Ceecret Enterprises signed an agreement to provide Fresh-from-Field Produce with a weighing system for a price of $112,735. The system included finely tuned scales that fit into Fresh-from-Field's point-of-sale system, Ceecret's specialized proprietary software was modified to allow the weighing system to function in Fresh-from-Field's point-of-sale system, and a one-year contract to calibrate the equipment and software on an as-needed basis. (Ceecret competes with other vendors who offer ongoing calibration contracts for Ceecret's systems.) If Ceecret was to provide these goods or services separately, it would charge $58,500 for the scales, $11,700 for the software, and $19,800 for the calibration contract. Ceecret delivered and installed the equipment and software on September 1, 2021, and the calibration service commenced on that date Assume that the scales, software and calibration service are all separate performance obligations. How much revenue will Ceecret recognize in 2021 for this contract? $90,000 $98,267 $87,934 $112,735

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