a. Indicate when revenue should be recognized in the following independent circumstances. In all cases, the financial year end is 31 December 2016.

i. Goods at selling price of RM20,000 were sent out on 14 day sale or return basis on 20 December 2016 which were not returned by the financial position date.

ii. Receipt of RM2,400 for the next 24 months issue of magazine which was received in February 2016. The first magazine was sent out in April 2016.

iii. Receipt of RM40,000 in December 2016 from ticket sales for musical concert by Fourth Harmony which will be staged in January 2017.

iv. Receipt of RM25,000 by the radio station to play an advertisement daily 10 times during the morning hour show for a period of five months. The cash was received on 1 September 2016 and the advertisement were aired from 1 October 2016.

v. The land lord received 3 months rental in advance of RM3,600 on 1 December and the tenant occupied the premises from 1 December 2016.