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Q: A company sells long-term maintenance contracts for computer equipment. On December 15,2020 , it sells a 3-year contract to Customer A, receiving $15,000 cash.

image text in transcribed Q: A company sells long-term maintenance contracts for computer equipment. On December 15,2020 , it sells a 3-year contract to Customer A, receiving $15,000 cash. The contract covers the period from January 1, 2021 through Dec. 31, 2023. How much revenue should the company recognize from this contract for the QUARTER ended March 31,2021? A. $1,500 B. $1,250 C. $1,200 D. $1,300

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