ii. TSA sold the future payment stream from this license arrangement for $65,000 on January 1. 2000 on a non recourse basis. Prepare the journal entry to record this transaction assuming that the conditions for a sale are met. b. While reviewing this contract in 2003. TBA determined that monthly license fees for this contract did not meet the \"xed and determinable\" provision of SOP 912 in January 1999. Prepare the journal entries for TSA on January 1. 1999 and January 3], I999 under this assumption. Explain your answer referring to ABC 9856052535. c. Now assume that the license pertains to software for nancial transactions via the internet that is frequently updated because it is a potential target for hackers. The updates are essential in maintaining the utility of the software and are provided free of cost to the customer tmder the terms of the contract. Prepare the journal entries for TEA on January 1. 1999 and January 31. 1999 under this assumption. Explain your answer referring to ASC 6064055 (paras. 58, 59. 60. and I52) and ASC 6116-1065440 (paras. D and F}. :1. Identify the total revenue recognized in each situation (a through c) above and how it is classied (i.e., under ILF. MLF. and Interest Revenueg'Expense). How much revenue is booked in 1999 in each case? Provide reasons for differences in the tinting of revenue recognition in the three situations, referring to relevant accounting standards