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Enterprise Solutions Inc. licenses its productivity software to Blackmon Company for $100,000, payable at contract...

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Accounting

Enterprise Solutions Inc. licenses its productivity software to Blackmon Company for $100,000, payable at contract inception. Enterprise will not provide software updates during the five year length of the contract that Blackmon may use the software.

What journal entry is necessary for Enterprise to account for this transaction? Enterprise contracted with Blackmon on January 1.

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