QUESTION 29 Identifying the contract — assessing collectability for a portfolio of contracts Wholesaler sells sunglasses to a large volume of customers under similar contracts. Before accepting a new customer, Wholesaler performs customer acceptance and credit check procedures designed to ensure that it is probable the customer will pay the amounts owed. Wholesaler will not accept a new customer that does not meet its customer acceptance criteria. In January 2018, Wholesaler delivers sunglasses to multiple customers in exchange for consideration totaling $ 100,000. Wholesaler concludes that control of the sunglasses has transferred to the customers and there are no remaining performance obligations. Wholesaler’s concludes, based on its procedures, that collection is probable for each customer; however, historical experience indicates that, on average, Wholesaler will collect only 95% of the amounts billed. Wholesaler believes its historical experience reflects its expectations about the future. Wholesaler intends to pursue full payment from customers and does not expect to provide any price concessions. How much revenue should Wholesaler recognize?