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amortization of multiyear business contract

For small company which received five year approx 500k business contract, is it possible to amortize this contract? We have started to provide our services, and already got paid approx 50K. And around 20k we already billed. So far we were showing as a business receipts as and when received. This method does not show any valuation in company. Amortization will help to attract potential investor.

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