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Type here to search Question: Ernst Ltd provides a bundled telecommunications service contract to Arthur Ltd. It charges Arthur Ltd $35 000 for the initial

Type here to search Question: Ernst Ltd provides a bundled telecommunications service contract to Arthur Ltd. It charges Arthur Ltd $35 000 for the initial connection to its network and two ongoing services-access to the network for one year and 'on-call troubleshooting' advice for that year. Arthur Ltd pays the $35 000 on 1 July 2016. Ernst Ltd determines that, if it were to charge a separate fee for each service if sold separately, the fee would be: Connection fee $5000 Access fee $12 000 Troubleshooting $23 000 The end of Ernst Ltd's reporting period is 30 June each year. Required Prepare the general journal entries to record this transaction in accordance with AASB 118 for the year ended 30 June 2017. Show all workings. 1 13C 15 ANA ING 114PM 10

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