E3-1 Consider the following situations: 1. American Airlines collects cash on June 12 from the sale of a ticket to a customer. The flight occurs on August 16 A customer purchases sunglasses from Eddie Bauer on January 27 on account. Eddie Bauer receives payment from the customer on February 2. Jonvoyy On March 30, a customer preorders 10 supreme pi party. The pizzas the time of delivery A customer pays in advance for a three-month subscription to Sports llustrated magazine on July 1. The magazines are scheduled for delivery each week Avoust 1 2. 3. zzas from Pizza Hut for a birthday are prepared and delivered on April 2. The company receives cash at APril 2 4. from July 1 through September 30 Eoch week and Septembery 2 determine thuly Required: For each situation, determine the date for which the company recognizes (records) the revenue under accrual-basis accounting. BE3-6 At the beginning of May, Golden Gopher Company reports a balance in Supplies of $500 On May 15, Golden Gopher purchases an additional $3,300 of supplies for cash. By the end of May, only $300 of supplies remains. Debit credit 2800 suppies o cost pebrt (1) Record the purchase of supplies on May 15. Cash 2) Record the adjusting entry on May 31. sple es Supplies Exense 3500 surplies (3) Calculate the balances after adjustment on May 31 of Supplies and Supplies Expense Supples300 surples enerse 3500