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Ally Co. sells a refrigerator plus a warranty to Jackson Inc. for $95,000. The refrigerator...

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Accounting

Ally Co. sells a refrigerator plus a warranty to Jackson Inc. for $95,000. The refrigerator has a standalone price of $80,000 and the warranty can be sold separately for $20,000.

a. How many performance obligations does Ally Co. have in this transaction?

b. What is the transaction price allocated to each performance obligation?

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