XYZ Corp signed a $1,000,000 contract to deliver consulting services over 10 months Payments are received quarterly How much revenue should XYZ recognize each month How much revenue will be recognized at the end of the first quarter What is the unrecognized revenue after the second quarter How should XYZ record the quarterly payments in their financial statements

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XYZ Corp. signed a $1,000,000 contract to deliver consulting services over 10 months. Payments are received quarterly. How much revenue should XYZ recognize each month?

XYZ Corp. signed a $1,000,000 contract to deliver consulting services over 10 months. Payments are received quarterly.

How much revenue should XYZ recognize each month?
How much revenue will be recognized at the end of the first quarter?
What is the unrecognized revenue after the second quarter?
How should XYZ record the quarterly payments in their financial statements?

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