For each scenario, calculate the amount of revenue to be recognized in $2024.$

Record transactions related to credit sales and contra revenues $($

P$5-2$A Outdoor Expo provides guided fishing tours. The company charges $$300$ per person but offers a $20\%$ discount to parties of four

or more. Consider the following transactions during the month of May.

Required:

Record the necessary transaction$($s$)$ for Outdoor Expo on each date.

Show how Outdoor Expo would present net revenues in its income statement.