LOS dix 1A) E1-18A. Revenue Recognition Principle For each of the following situations, determine whether the criteria for revenue recognition have been met by December 31, 2018. a. A manufacturing company received $60,000 cash on December 31, 2018, as an advance payment on a special order for a piece of equipment. The equipment will be manufactured by March 31, 2019. b. A television dealer acquired six new high-definition television sets for $7,800 cash on December 31, 2018, and advertised their availability, at $2,000 each, in that evening's newspaper. A snow removal service signed a contract on November 15, 2018, with a shopping mall to clear its parking lot of all snowfalls over 1 inch during the months of December 2018 through March 2019. The cost is $900 per month and payment is due in two $1,800 installments: January 2, 2019, and February 1, 2019. By December 31, 2018, no snowfall over 1 inch had occurred