On April 1, 2021 Summer Time Pools agreed to install a pool for the Stafford family. Due to the popularity of pools Summer Time and the Stafford family agreed that the pool will not be installed until May 1, 2022.   The Stafford family paid Summer Time $40,000 on April 5, 202.  Interest on similar project is $2,400.  Will the interest be incorporated into the transaction price (yes/no) If the interest is incorporated into the price will the company recognize interest expense or interest income? What is the transaction price?

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