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Crane Company sells goods that cost $493,500 to Ceradyne Company for $573.000 on January 2.2025...

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Accounting

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Crane Company sells goods that cost $493,500 to Ceradyne Company for $573.000 on January 2.2025 on account. The saies price includes an installation fee, which is valued at $64,500. The fair value of the goods is $508,500. The installation is considered s separate performance obligation and is expected to take 6 months to complete. Crane prepares an income statement for the first quarter of 2025, ending on March 31, 2025 (installation was completed on June 18, 2025) How much revenue should Crane recognize related to its sale to Ceradyne

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