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Revenues are normally recognized when a company transfers promised goods or services to customers in the amount the company expects to be entitled to receive. Expense recognition is guided by an attempt to match the costs associated with the generation of those revenues to the same time period. Assume that the following transactions occurred in January: a. MCGraw.HIII Education uses $2,756 worth of electricity and natural gas in its headquarters building for which it has not yet been billed. b. At the beginning of January. Turner Construction Company pays $963 for magazine advertising to run in monthly publications each of the first three months of the year. c. Deli pays its computer service technicians, $399,500 in salaries for the two weeks ended January 7 . Answer from Dell's standpoint. d. lowa State University orders 69,000 football tickets from its printer and prepays $7,660 in advance for the custom printing. The first game will be played in September. Answer from the university's standpoint. e. The campus bookstore receives 680 accounting texts at a cost of $90 each. The terms indicate that payment is due within 30 days of delivery. f. During the last week of January, the campus bookstore sold 540 accounting texts recelved in (e) at a sales price of $130 each. g. Fucillo Automotive Group pays its salespersons $14,900 in commissions related to December automobile sales. Answer from Fucillo's standpoint. h. On January 31 , Fucilio Automotive Group determines that it will pay its salespersons $63,810 in commissions related to January sales. The payment will be made in early February. Answer from Fucillo's standpoint. L A new grill is recelved and installed at a Wendy's restaurant at the end of the day on January 31; a $12,950 cash payment is made on that day to the grill supply company. Answer from Wendy's standpoint. j. Mall of America (in Bloomington, MN) had janitorial supplies costing $5,400 in storage. An additional $2,900 worth of supplies was purchased during January. At the end of January, $1,580 worth of janitorial supplies remained in storage. k. An Emory State University employee works eight hours, at $23 per hout, on January 31; however, payday is not until February 3. Answer from the university's point of view. 1. Wang Company paid $2,700 for a fire insurance policy on January 1 . The policy covers 12 months beginning on January 1 . Answer from Wang's point of view. m. Derek Incorporated has its delivery van repaired in January for $560 and charges the amount on account. n. Hass Company, a farm equipment company, receives its phone bill at the end of January for $382 for January calls. The bill has not been paid to date. o. Martin Company receives and pays in January a $1,475 invoice (bill) from a consulting firm for services recelved in January. Answer from Martin's standpoint. p. Parillo's Taxi Company pays a $715 invoice from a consulting firm for services received and recorded in December. q. PVH Corporation, manufacturer of IZOD, ARROW. Van Heusen, Calvin Klein, and Tommy Hilfiger apparel among other brands, completes production of 1,700 men's shirts ordered by Macy's department stores at a cost of $90 each and delivers the order in January. Answer from PVH Corporation's standpoint. Required: For each of the transactions, if an expense is to be recognized in January, indicate the expense account title and the amount. Note: If expense is not recognized choose "None". Required: For each of the transactions, if an expense is to be recognized in January, indicate the expense account title and the amount. Note: If expense is not recognized choose "None