Chapter 3 Homework 1 poi 1 k Seve Ace The Help Save & Ext Submit Check my work According to the revenue recognition principle, revenues should be recognized when or as the company performs acts promised to the customer. For many businesses, this condition is met at the point of delivery of goods or services. The following transactions occurred in September: Required: For each of the transactions, if revenue is to be recognized in September, indicate the amount. Activity HM Pit References a. A customer paid for and downloaded song files from Apple's iTunes store for $13 cash Answer from Apple's standpoint, b. Best Flooring provided a carpet installation for $2.600 cash. A comparable installation from other companies costs $3.600 eSpan Cable is scheduled to install digital cable at 1,300 Austin area homes next week. The installation charge is $135 per home. The terms require payment within 30 days of installation. Answer from Span Cable's standpoint. d Span Cable completed the installations described in (c). Answer from Span Cable's standpoint eSpan Cable received payment from customers for the installations described in (c) Answer from Span Cable's standpoint. t. A customer purchased a ticket from QuickAir in September for $435 cash to travel in December Answer from QuickAir's standpoint Amount