3 Assignment Part 1 of 3 Points: 0 Of 1 Momentous Occasions is a photography business that rents photo booths for parties. A group paid $1,000 in advance on March 3 to guarantee serv K party to be held April 2. The total cost of the event was to be $2,500. On April 28, the balance of $1,500 was paid. Answer the following questions about the correct application of the revenue recognition criteria. a. Is the $1,000 reported as revenue on March 3? b. On what date was the revenue earned? c. Is the $1,500 reported as revenue on April 28? a. Is the $1,000 reported as revenue on March 3? reported when the cash is received because