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Windsor enters into a contract with Crane Company to purchase a gas fireplace unit. The sale agreement is for a total price of $ 2

Windsor enters into a contract with Crane Company to purchase a gas fireplace unit. The sale agreement is for a total price of $2990 and includes delivery of the unit, installation, and a two-year warranty. Installation successfully occurred on November 1,2024. Crane Company often sells this gas fireplace for $2460 and offers installation and warranty services at $470 and $240, respectively. Using the stand-alone fair values, what amount would be recorded as revenue on November 1,2024, under the contract-based approach to revenue recognition?

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