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On May 10th, Acme Co. agrees to a contract to sell 5,000 area rugs to Costless Corp. for $250,000. On September 1st, after 4,000 rugs
On May 10th, Acme Co. agrees to a contract to sell 5,000 area rugs to Costless Corp. for $250,000. On September 1st, after 4,000 rugs have been delivered, the parties modify the contract to sell an additional 2,000 rugs for $70,000, which is significantly lower than Acme's stand-alone selling price at that time. During September, Acme delivers 1,000 rugs. How much revenue will they recognize for the month of September
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