According to the revenue recognition principle, revenues should be recognized when they are eamed, which happens when the company performs acts promised to the customer. For most businesses, this condition is met at the point of delivery of goods or services. The following transactions occurred in September Required: For each of the transactions, if revenue is to be recognized in September, indicate the amount. Activity Amount A customer paid $38 cash for 38 song files from Apple's iTunes store. Answer Apple's standpoint Home Depot provided a carpet installation for $1,000 cash. Atomparable installation from other companies costs $2,000. AT&T is scheduled to install digital cable at 1,400 Austin area homes next week. The a. b. lation charge is $175 per home. The terms require payment within 30 days of installation. Answer from AT&T's standpoint. d. AT&T completed the installations described in (c). Answer from AT&T's standpoint. AT&T received payment from customers for the installations described in (c). Answer e. from AT&T's standpoint A customer purchased a ticket from American Airlines in Septomber for $800 cash to travel in December. Answer from American Airlines' standpoint