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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 $ and includes delivery of the unit, installation, and a twoyear warranty. Installation successfully occurred on November Crane Company often sells this gas fireplace for $ and offers installation and warranty services at $ and $ respectively. Using the standalone fair values, what amount would be recorded as revenue on November under the contractbased approach to revenue recognition?
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