Kimmel, Financial Accounting, 8e Heln I System Announcements tice Gradebook ORION Downloadable eTextbook ent CALCULATOR PRINTER VERSION BACK Exercise 4-1 The following independent situations require professional judgment for determining when to recognize revenue from the transactions Identify when revenue should be recognized in each of the situations. (a) Southwest Airlines sells you an advance-purchase airline ticket in September for your flight home in (b Ultimate Electronics sells you a home theater on a "no money down and full payment in three mont hs" promotional deal. Toronto Blue Jays sell season tickets online to games in the Skydome. Fans can purchase the tickets at any time, although the season doesn't officially begin until April. The major league baseball season runs from April through October (d) You borrow money in August from RBC Financial Group. The loan and the interest are repayable in full in November (e) In August, you order a sweater from Sears using its online catalog. The sweater arrives in September, which you charged to your Sears credit card. You receive and pay the Sears bill in October. VIDEO: APPLIED SKILLS LINK TO TEXT SUBMIT ANSWE SAVE FOR LATER Question Attempts: Unlimited en/shared/assignment test/aglist.uni?idsasnm2289640#N10019