Anna enters into contract offering variable consideration. The contract pay are 1400 a month for...

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Accounting

Anna enters into contract offering variable consideration. The contract pay are 1400 a month for six months of consistent consulting service. In addition theres a 60% chance the contract will pay an addition 2440% chance the contract will pay in addition 3400 depending on the outcome of consulting contract and concludes that this contract qualifies for revenue recognition overtime, assuming that Annas recognition variable consideration as the most likely amount after Anna has recognized revenue for two months of the contract, she changes her assessments of the chance the contract will pay her 3400 to 70% adjustment to revenue and recognize to account for changing estimate

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