Example 5: revenue from rendering of services A vehicle dealer enters into contracts to maintain its customer's new vehicle for a three-year period. On 1 January 20X1 a customer paid the dealer CU15,000. Experience has shown that the costs to the dealer of maintaining new vehicles of the model owned by the customer are on average CU2,500 in the first year two years of ownership (each year) and CU5,000 in the third year. What is the amount of revenue recognized at the end of each reporting period during the lifetime of the contract