A company sells equipment to customers for $444,000 on January 1st, 2021. The sales price...
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Accounting
A company sells equipment to customers for $444,000 on January 1st, 2021. The sales price includes an installation fee, which has a fair value of $125,000. The installation is considered a separate performance obligation and is expected to take two months to complete. The fair value of the equipment is $375,000. On January 1st, 2021, the company should record Unearned Service Revenue of $ .
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