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The standalone selling price for one year of service at the time of modlification is $216,000. Maintenance fees are billed annually by Traders inc. Required

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The standalone selling price for one year of service at the time of modlification is $216,000. Maintenance fees are billed annually by Traders inc. Required answer the following questions, rounding each answer to the nearest whole dollar. Assume any payments due were recelved in cash. a. Record Traders inc.'s journal entry to recognize revenue for each of the first two years of the contract

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