Identifying Revenues 8L Expenses The following transactions are July 2009 activities of Bill's Extreme Bowling Inc.I which operated several bowling centers. If revenuea'expense is to be recognized in July, indicate the amount. If revenuefexpense is not to be recognized in July, explain why. a. Bill's collected $12,000 from customers for games played in July b. Bill's billed a customer for $250 for a party held at the center on the last day of July. The bill is to be paid in August. c. Bill's received $1,000 from credit sales made to customers last month [in June] (1. The Men's and women's bowling leagues gave Bill's advance payments totaling $1500 for the fall season that starts in September