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On May 1, 2021, Varga Tech Services signed a $144,000 consulting contract with Shaffer Holdings. The contract requires Varga to provide computer technology support services

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On May 1, 2021, Varga Tech Services signed a $144,000 consulting contract with Shaffer Holdings. The contract requires Varga to provide computer technology support services whenever requested over the period from May 1, 2021, to April 30, 2022, with Shaffer paying the entire $144,000 on May 1, 2021 How much revenue should Varga recognize in 2021? (Do not round intermediate calculation.) Revenue

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