Answer each of the questions below, based on this scenario. GR Perry's is a combination coffee shop/bookstore that offers a breakfast and lunch menu in their coffee shop located adjacent to their bookstore. GR Perry's prepares financial statements under the accrual basis of accounting and follows generally accepted accounting principles (GAAP) of the U. S. Below are a series of independent transactions that occurred during the fall of the past year. For each transaction, choose the letter that corresponds to the proper amount of revenue that GR Perry's should recognize in September, October, and November. Q1 1 point possible (graded) Perry's sells child ren's books to a local elementary school during September on account for $850. Perry's collects the cash from the elementary school in Octo ber. October September November A $0 $0 $0 B $0 $850 $C $0 C $850 $0 $0 $0 $850 Select your answer from the dropdown menu below. Select an option You have used 0 of 2 attempts Submit Save Q2 1 point possible (graded) Perry's receives $100 in September from a customer to reserve two copies of a new bestseller due out in October. The books are delivered to the customer in October. September October November A $0 $0 $0 $100 $0 $0 $0 $100 $0 $0 $0 $100 Select your answer from the dropdown menu below. Select an option You have used 0 of 2 attempts Submit Save Q3 1 point possible (graded) Perry's serves meals in October for which customers pay $1,200 in cash. Perry's served another $800 in meals in October for which customers paid with credit cards. $600 of the credit sales was collected in October and the remaining $200 was collected in November. September October November $0 $2,000 $0 B $0 $1,800 $200 $200 C $0 $1,200 $0 $1,200 $600 D Select your answer from the dropdown menu below. Select an option You have used 0 of 2 attempts Submit Save Q4 1 point possible (graded) Perry's receives cash of $500 in September and $250 in October for books it sold on account in August. September October November A $0 S0 $0 B $250 $0 $500 $750 $0 C $0 D $500 $0 $0 Select your answer from the dropdown menu below. Select an option You have used 0 of 2 attempts Submit Save Q5 1 point possible (graded) Perry's decides to rent its upstairs office space to a local real estate agent for $700 per month. The rental agent gives Perry's $2,100 on October 1 for three months rent beginning October 1 October September November $700 A $700 $700 $0 B $0 $2,100 $0 $1,400 $700 C D $0 $700 $700 Select your answer from the dropdown menu below. Select an option You have used 0 of 2 attempts Submit Save