On January 1, 20X7, Carlyle Entity enters into a one-year contract to provide technical support for Daimler Entity for $12,000. Carlyle Entity appropriately recognizes $1,000 revenue each month. On June 30, 20X7, the contract is extended to two-years for a total to $18,000. How will Carlyle Entity account for this contract modification?

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The Answer of On January 1, 20X7, Carlyle Entity enters into a one-year contract to provide technical support for Daimler Entity for $12,000. Carlyle Entity appropriately recognizes $1,000 revenue each month. On June 30, 20X7, the contract is extended to two-years for a total to $18,000. How will Carlyle Entity account for this contract modification?

On January 1, 20X7, Carlyle Entity Enters into a One-Year