Liability recognition and valuation. The events below relate to the Chicago Symphony Orchestra. Indicate whether or not each of the following events immediately gives rise to a liability under GAAP. If accounting recognizes a liability, state the account title and amount.

a. The firm receives \(\$ 340,000\) for season tickets sold for next season.

b. The firm places an order with a printer company totaling \(\$ 85,000\) for symphony performance programs for next season.

c. The firm receives the programs ordered in part \(\mathbf{b}\), along with an invoice for \(\$ 85,000\).

d. The firm receives notice from its attorneys that a loyal customer attending a concert last season and sitting in the first row of the symphony hall has sued the Chicago Symphony Orchestra for \(\$ 10\) million claiming hearing loss. The customer normally sits further back but was asked to move forward for this particular concert because of damage to the regular seat.

e. The firm signs a three-year contract with its first violinist at salary of \(\$ 140,000\) per year.

f. The firm issues, for \(\$ 225,000\), additional common stock with a par value of \(\$ 200,000\).

g. The firm receives a 90 -day, 8 -percent loan of \(\$ 40,000\) from a local bank.