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End of Chapter Exercise 13.12 The Conceptual Framework defines revenues and outlines a number of criteria for their recognition. Surfin' Magazines Ltd identifies the following ind For each of the items listed below, identify whether or not you would recognise it as revenue in the statement of profit or loss. Recognised as revenue in the statement of profit or loss? (a) Received $24,000 in subscriptions for magazines to be delivered once per month for the next 12 months. (b) Received dividends from IAG for shares owned by the business. (c) Paid interest on a loan to purchase a delivery vehicle. (d) Received a discount for early payment of a supplier's invoice. (e) Delivered magazines for the month for customers who had paid in advance. (f) Delivered magazines and invoices to customers who had not prepaid their subscriptions. Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used