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Assume the following scenarios. Scenario 1: During 2024, 18M provides consulting services on its mainframe computer for $11,000 on account. The customer does not pay
Assume the following scenarios. Scenario 1: During 2024, 18M provides consulting services on its mainframe computer for $11,000 on account. The customer does not pay for those services until 2025. Scenario 2: On January 1, 2024, Gold's Gym sells a one-year membership for $1,200 cash. Normally, this type of membership would cost \$1,600, but the company is offering a 25% "New Year's Resolution" discount. Scenarlo 3: During 2024, The Manitowoc Company provides shipbuliding services to the U.S. Navy for $450,000. The US. Navy will pay $150,000 at the end of each year for the next three years, beginning in 2024 Scenario 4: During 2024, Goodyear sels tires to customers on account for $35,000. By the end of the year, collections total $30,000. At the end of 2025 , it becomes apparent that the remaining $5,000 wili never be collected from customers Required: For each scenario, calculate the amount of revenue to be recognized in 2024. B-Rides, Incorporated, manufactures bicycles that can fold to a compact size, On March 15 , the company receives a large order from a big box specialty retalier. Due to the size of the order, B-Rides required this customer to pay $1,000 immedlately, reflecting a 10 percent down payment. The remaining balance of $9,000 was received from the customer in April (the following month) at delivery. Required: 1. How much revenue should be recognized in March? 2. How much deferred revenue should be recognized in March? 3. How much revenue should be recognized in Apri? 4. How much deferred revenue should be recognized in April
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