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QUESTION
1. Does ASC 606, Revenue From Contracts with Customers, address the treatment of incremental costs of obtaining a contract?
1. Does ASC 606, Revenue From Contracts with Customers, address the treatment of incremental costs of obtaining a contract? Explain
2. Which costs are incremental costs of obtaining the contract, and therefore are required to be capitalized? Be specific and support your answers with references to the standards and other examples.
3. How should EZ Inflatables determine the appropriate amortization method, and over what period should the Company amortize any capitalized costs? Provide example journal entries.
