On November 1, 20X1, Gerakos Corporation sold software and a six-month technical support contract to a customer for $80,000. Gerakos sells the same software without technical support for $60,000. It sells technical support for $30,000. Gerakos allocates the transaction price based on relative stand-alone values.



Required:

What amount of revenue does Gerakos recognize in 20X1 and in 20X2? (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)