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CoursHeroTranscribedText: Silver Inc. sells to a customer a perpetual software license and post-contract customer support...

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Accounting

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CoursHeroTranscribedText: Silver Inc. sells to a customer a perpetual software license and post-contract customer support for a 12-month period, commencing at the time that the software is activated. Silver Inc. charges $780 upfront when the software is purchased and $52 a month for 12 months, due at the end of the month. Silver Inc. sells the software separately for $1,040 while the standalone selling price of the post-contract customer support is $520. Required: How should the transaction price be allocated among the performance obligation(s)? Round each of your answers to the nearest dollar. Show your computation

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