Question 41 of 45 View Policies Current Attempt in Progress David Beggs signs a one-year contract with BlueBox Video. The terms of the contract are that David is refundable initiation fee of $180. After the first year, David can renew his membership by paying an ann per month BlueBox determines that its customers, on average, renew their annual membership threet before terminating their membership. What amount of revenue should BlueBox recognize in its first year given that the membership renewal company follows IFRS. Revenue recognized in first year $ Attempts: 0 -75 5s rear contract with BlueBox Video. The terms of the contract are that David is required to pay a non- of $180. After the first year, David can renew his membership by paying an annual membership fee of $6 mines that its customers, on average, renew their annual membership three times after the first year nembership. should BlueBox recognize in its first year given that the membership renewal is a material right? The rst year $ Attempts: 0 of 1 used