Financial Accounting Quiz
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ACCOUNTING FRAMEWORK AND FINANCIAL STATEMENTS
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DataFlow Inc. provides data analytics services under a contract with both fixed and variable components. The contract includes a base fee of $600,000 plus additional fees based on data volume processed: $5 per gigabyte for the first 10,000 GB, $3 per gigabyte for the next 15,000 GB, and $1 per gigabyte thereafter. Services are provided over 12 months starting July 1, 2024. By December 31, 2024, DataFlow had processed 18,000 GB of data, with processing occurring evenly over the 6-month period.
What total revenue should DataFlow recognize for the six months ended December 31, 2024?
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