1.) For the second quarter ending on June 30, how much revenue should Horowitz recognize for the sale to the local construction company?

2.) What type of arrangement is this?

Problem 6: Revenue Recognition (6 points) Horowitz Paint Shop sold $3,000 of paint to a local construction company for cash on June 25, 2021. Because of a flood in the area, the customer requested that Horowitz not ship the items from its warehouse until July 3, 2021, so Horowitz set aside the paint on June 25, packaged and ready to ship on July 3