es For each of the following separate situations, determine how much revenue is recognized in December (using accrual basis accounting). a. On December 7, Oklahoma City Thunder sold a $100 ticket to a basketball game to be played in March. b. Tesla sold and delivered a $68,000 car on December 25. The customer will not pay until February c. Deloitte signs a contract on December 1 to provide 40 days of advisory services with receipt of $20,000 due at the end of the contract. On December 31, 75% of the services have been completed. Situations a. Sale of a ticket to a basketball game. b. Sale of a car on credit Revenue recognized $ 0 $ 68,000 C. Contract to provide advisory services For each of the following separate situations, determine the amount of expense each company should recognize in December (using accrual basis accounting). a. Chipotle has monthly wages expense of $6,400 that has been incurred but not paid as of December 31. b. United Airlines purchases a 24-month insurance policy for $96,000 on December 1 for immediate coverage. c. On December 15, Pfizer prepays $52,000 for hotel rooms for its annual sales meeting in January Situations a. Wages expense incurred but not paid b. Purchases a 24-month insurance policy C. Prepays for hotel rooms for its annual sales meeting Expenses