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Financial Accounting Standards Board 1 of 62 https://asc.org/printamp;rendercmd=subtopicamp;trid=2197878amp;nav_type.
2. Revenue Recognition for Software (25 points)a. A software vendor sold $300,000 software to a customer. The price includes the software (no addition development or modification needed), the installation of the software and a one-year technique support. If the software can be purchased at a standalone price of $250,000 with the fair values of installation and one-year technique support of $5,000 and $57,500, respectively, how should the company recognize the sales price of $300,000 upon the delivery and the completion of the installation? You need to provide the supporting documents for your answer (i.e., ASC number).Requirement: 1 and half pages with Time New Roman 12pts doubled spaceThe attach file is reading for the question.
