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G. Revenue Recognition Concept: Mary signed up and paid $1200 for a 6 month ceramics course on June 1st with Choplet Ceramics. As of August

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G. Revenue Recognition Concept: Mary signed up and paid $1200 for a 6 month ceramics course on June 1st with Choplet Ceramics. As of August Ist, Choplets accounting records would indicate how much revenue H. Right of Return Concept: Boomerang Computer Company sells computers with an unconditional right to return the computer if the customer is not satisfied. Boomerang has a long history selling these computers under this returns policy and can provide precise estimates of the amount of returns associated with each sale. Boomerang most likely should recognize revenue

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