How much revenue will saar recognize

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Question - Saar Associates sells two licenses to Kim & Company on September 1, 20X1. First, in exchange for P100,000, Saar provides Kim with a copy of its proprietary investment management software, which Saar does not anticipate updating and which Kim can use permanently. Second, in exchange for P90,000, Saar provides Kim with a three-year right to market Kim's financial advisory services under the name of Saar Associates, which Saar advertises on an on-going basis.

Required - How much revenue will Saar recognize in 20X1 under this arrangement?

Reference no: EM132927696

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