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Cullumber Co. enters into a contract to sell Product A and Product B on January...

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Accounting

Cullumber Co. enters into a contract to sell Product A and Product B on January 2,2023, for an upfront cash payment of $220,000. Product A will be delivered in two years (January 2,2025) and Product B will be delivered in five years (January 2,2028). Cullumber allocates the $220,000 to Products A and B on a relative stand-alone selling price basis as follows.
\table[[,\table[[Stand-Alone],[Selling Prices]],\table[[Percentage],[Allocated]],\table[[Allocated],[Amounts]]],[Product A,$69,000,30%,$66,000
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