Assume that a firm uses the accrual basis of accounting. For each of the following independent cases, indicate the dollar amount of revenue the firm recognizes for the month of August. 1. Collects $2,000 in July for merchandise to be delivered in August. 2. Collects $1,200 in May for subscriptions that will be delivered during the next twelve months (beginning in May). 3. Collects $800 in August for merchandise sold and delivered in July. 4. Collects $2,400 interest on a 6-month certificate of deposit, which matures on August 15th. 5. Sells $3,000 of merchandise on account in August. The firm allows a 2% discount for payment prior to 30 days and customers take the discount