Capitol Motors is in its first year of operations and as of December $30$ has total revenues of $$5$ million, projected net income of $$200,000,$ and total assets of $$40$ million $($Capitol$$s year$-$end is December $31).$ On December $31,$ a customer and Capitol Motors agree to terms on the purchase of a new automobile for $$25,000.$ The customer signs and completes all paperwork for the sale but asks Capitol to hold the full$-$payment check until he can complete financing with a local bank. Because the bank has already closed for the day, it will be January $2$ before the customer can release the check to Capitol. The customer already has a $$30,000$ line of credit approved by his bank. The Capitol Motors$$ credit manager reviews the customer$$s file and offers to finance the transaction through the dealership$$s financing company. The customer, however, wishes to use a local bank and declines the financing offer. The customer and Capitol agree to leave the automobile on the dealership lot overnight so it can be properly serviced $($e$.$g$.,$ washed, fluid levels checked$).$

Describe the revenue recognition criteria outlined in the FASB$$s Statement of Concepts No$.5.($Use the revenue recognition standard from Accounting Standards Update $($ASU$)$ No$.2014-09).$

Given the facts of this case, should Capitol Motors record a sale as of December $31?$ Do not just answer yes or no$.$ Provide a detailed explanation in support of your conclusion including an analysis of the facts of the case in relation to each of the revenue recognition criteria outlined in ASU No$.2014-09.$