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0530 Check my Brief Exercise 5-15 Variable consideration [LO5-6) in January 2018, Continental Fund Services,...

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0530 Check my Brief Exercise 5-15 Variable consideration [LO5-6) in January 2018, Continental Fund Services, Inc, enters into a one year contract with a client to provide investment advisory services The company wa receive a managemert tee, prepid at the begning of the contract, that is calculated as 1 5% of the dent's $30 mhon total assets being managed In addition, the contract spectes that Coritnmtal win receive a performance bonus of 15% of any retums in excess of the return on the Dow Jones Industrial Average market ndex Condinental estimates that it will earn a $2 millon eio performance bonus, but is very uncertain of that estimate, given that the bonus depends on a highly volatile stock market On what transaction price should Continental base revenue recognition(Enter your answer in ie,5,500,000 should be entered as 5.50p

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