Angel Limited Develops and Sells Off-The-Shelf Accounting Software Packages

Angel Limited develops and sells off-the-shelf accounting software packages. The retail price of each package is $550 (GST inclusive) . Included with each package sold are 'free' upgrades for a period of 12 months from the date of sale. These upgrades can be purchased separately for $66 (GST inclusive) . At the date of sale, Angel should record revenue of:

A) $440.00.
B) $484.00.
C) $550.00.
D) $616.00.

Correct Answer:

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