Use the information in the adjusted trial balance presented below to calculate current assets for Jones Company: Account Title Debit Credit
Cash 59,000
Accounts receivable 28,000
Prepaid insurance 11,400
Equipment 220,000
Accumulated Depreciation -
Equipment 110,000
Land 107,000
Accounts payable 29,000

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone