According to the revenue recognition principle, revenues should be recognized when or as the company performs acts promised to the customer. For many 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 a. A customer paid for and downloaded song files from Apple's iTunes store for $7 cash. Answer from Apple's standpoint. b. Best Flooring provided a carpet installation for $1,400 cash. A comparable installation from other companies costs $2,400. c. Span Cable is scheduled to install digital cable at 2,000 Austin area homes next week. The installation charge is $115 per home. The terms require payment within 30 days of installation. Answer from Span Cable's standpoint. d. Span Cable completed the installations described in (c). Answer from Span Cable's standpoint. e. Span Cable received payment from customers for the installations described in (c). Answer from Span Cable's standpoint. f. A customer purchased a ticket from QuickAir in September for $705 cash to travel in December. Answer from QuickAir's standpoint. Amount

According to the revenue recognition principle, revenues should be recognized when or as the company performs acts promised to the customer. For many 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