BE18.7 (LO 2) Referring to the revenue arrangement in BE18.6, determine the transaction price for the contract, assuming (a) Nair is only able to estimate whether or not the building can be completed by August 1, 2023 (Nair estimates that there is a 70% chance that the building will be completed by August 1, 2023). and (b) Nair has limited information with which to develop a reliable estimate of completion by the August 1, 2023, deadline. BE18.8 (LO 2) Presented below are three revenue recognition situations. a. Yang sells goods to MTN for 1,000,000, payment due at delivery. b. Yang sells goods on account to Grifols for 800,000, payment due in 30 days. c. Yang sells goods to Magnus for Y500,000, payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is 464,000. Indicate the transaction price for each of these situations and when revenue will be recognized BE18.9 (LO 2) On January 2, 2022, Adani SE sells goods to Geo Company in exchange for a zero-interest-bearing note with a face value of 11,000, with payment due in 12 months. The fair value of the goods at the date of sale is 10,000 (cost 6,000). Prepare the journal entry or entries to record this transaction on January 2, 2022. How much total revenue should be recognized in 2022? BE18.10 (LO 2) On March 1, 2022, Parnevik Company sold goods to Goosen Inc. for $660,000 in exchange for a 5-year, zero-interest-bearing note in the face amount of $1,062,937 (an imputed rate of 10%). The goods have an inventory cost on Parnevik's books of $400,000. Prepare the journal entries for Parnevik on (a) March 1, 2022, and (b) December 31, 2022