5. On March 15, 2020, Sharpe Corp. provides goods to a retailer through consignment where Sharpe Corp. retains ownership of the goods until the goods are sold to the retailer's customer. Sale to the final customer is documented when the goods are scanned at the cash register of the retailer. Sharpe Corp. receives a daily report on the number of units sold by the retailer to the end customer. Any unsold product can be returned to Sharpe Corp. At any time. Sharpe Corp. has the right through the contract to recall any goods shipped and to transfer the goods to another retailer as a way to increase the rate of sales to the final customer. After the sale of the products to the final customer, the retailer cannot return the items to Sharpe Corp. During March of 2020, Sharpe Corp. transferred 5,180 units to the retailer, and the retailer sold 4,600 units. The product cost Sharpe Corp. $75 per unit and the product was sold for $115 per unit to the end customer. The retailer sent a payment to Sharpe Corp. for the cash collected on the sale of product less a 10% commission on April 7, 2020. Required a. At what point should Sharpe Corp. recognize revenue? Please be specific in your explanation. b. Record Sharpe's entries on March 15, 2020, March 31, 2020, and April 7, 2020