You have just signed a contract with Global Wireless that provides you with a new www phone and three years of wireless phone and data service. The of the contract specily that the price of the phones and the price for the wes services 550 per month, which will be bited to your credit card monthly Aher signing the contract, you pay for and receive your phone and provide your credit card details for morbilling purposes Requirement Using IERS rue recognition standards as a guide determine how Global Wales would recoge revenue from this transaction under IFRS be specified you pay for the Step 1. Identify the contract with the customer, specify its terms and evaluate the probably the customer will pay the transaction price when it becomes du The contract between you and Global specify the prices for the phone and wireless service, the terms of payment De specified, and the term of wireless service coverage phone immediately and provide your credit card details for the wireless charges, so to [ Global will collect the morty rom you as comes de each month Step 2. Identity the separate performance obligations in the contract OA Globalis obligated to provide you 36 months of wireless service but not obligated to provide a phone OB. Os obligated to provide you wa Huwel phone and 36 months of wireless service OC Global is not obligated to provide you with a Huawei phone or months of service OD. Obat is not obligated to provide you 36 months of wireless service but is obligated to provide a phone Step 3. Determine the transaction price The transaction price is 5 Step 4. Alocate the transaction price to the separate performance gations in the contract DA The price for the service is 5251 per month OB. The wireless service is $60 per month of service You have just signed a contract with Global Wireless that provides you with a new www phone and three years of wireless phone and data service. The of the contract specily that the price of the phones and the price for the wes services 550 per month, which will be bited to your credit card monthly Aher signing the contract, you pay for and receive your phone and provide your credit card details for morbilling purposes Requirement Using IERS rue recognition standards as a guide determine how Global Wales would recoge revenue from this transaction under IFRS be specified you pay for the Step 1. Identify the contract with the customer, specify its terms and evaluate the probably the customer will pay the transaction price when it becomes du The contract between you and Global specify the prices for the phone and wireless service, the terms of payment De specified, and the term of wireless service coverage phone immediately and provide your credit card details for the wireless charges, so to [ Global will collect the morty rom you as comes de each month Step 2. Identity the separate performance obligations in the contract OA Globalis obligated to provide you 36 months of wireless service but not obligated to provide a phone OB. Os obligated to provide you wa Huwel phone and 36 months of wireless service OC Global is not obligated to provide you with a Huawei phone or months of service OD. Obat is not obligated to provide you 36 months of wireless service but is obligated to provide a phone Step 3. Determine the transaction price The transaction price is 5 Step 4. Alocate the transaction price to the separate performance gations in the contract DA The price for the service is 5251 per month OB. The wireless service is $60 per month of service