Indicate which of the following transactions or events gives rise to the recognition of revenue in 2002 under the accrual basis of accounting. If revenue is not recognized, what is the account, if any. that is credited?

(a) On December 15, 2002, Howe Company received \($20.000\) as rent revenue for the 6-month period beginning January 1. 2003.

(b) Monroe Tractor Co.. on July 1, 2002. sold one of its tractors and received \($I0,000\) in cash and a note for \($50,000\) at 12% interest, payable in 1 year The fair market value of the tractor is \($60,000\).

(c) Oswald, Inc., issued additional shares of common stock on December 10, 2002, for \($30,000\) above par value.

(d) Balance Company received a purchase order in 2002 from an established customer for \($10,200\) of merchandise. The merchandise was shipped on December 20, 2002.

The company's credit policy allows the customer to return the merchandise within 30 days, and a 3% discount is allowed if paid within 20 days from shipment.

(e) Gloria, Inc., sold merchandise costing \($2,000\) for \($2,500\) inAugust 2002. The terms of the sale are 15% down on a 12-month conditional sales contract, with title to the goods being retained by the seller until the contract price is paid in full.

(f) On November 1 . 2002. Jones & Whitlock entered into an agreement to audit the 2002 financial statements of Lehi Mills for a fee of \($35,000.\) The audit work began on December 15, 2002. and will be completed around February 15. 2003.