5. Using your excellent negotiation skills, you convinced the hotel to allow the use of two conference rooms at no charge, as a result of your booking rooms and signing a food and beverage contract with the hotel. a. What is the effect on the financial statements (balance sheet and income statement) in November? In February?

I am assuming there is no effect to balance sheet or income statement as it would not need to be recorded as it is "free" or could be considered a part of the booking. Is that correct?