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Value Dealership Inc. markets and sells vehicles to retail customers. Along with a new vehicle...

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Accounting

Value Dealership Inc. markets and sells vehicles to retail customers. Along with a new vehicle purchase, a customer will receive a free annual maintenance contract for one year from the date of purchase. The standalone selling price of a vehicle is $30,000 and the standalone selling price for the annual maintenance contract is $612. During October, Value Dealership Inc. sold 30 vehicles for $30,250 per vehicle, each with a free annual maintenance contract.

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