wathin t at antamer: Aeguined: 1. How ahcoir toud acopunt for tise contact moditation? 2. Ficmite Levers inew manthy reverue jecoponbon journal entry. Anatysin 1. How should Loud account for thes contract modification? Adtanai foseterion The contract modification add goods or sorvices to the arrangement, therefore, this modification be treated as a separate contract. However, to delermine the approgriate accounting for the modification, the entity has to assess whether the remaining goods and services (18 months of service) are goods and services already provided to the customer (handset and 6 months of socvices). On July i, the contract receivable has a temaining balance of As a resut, the entity has to allocate to the remaining 18 months of service, or por month. 2. Phioare the jotamal entry to rooord the cash receved for the monthy sorvice plant on wily 1 . Devirberental bastrikgiane