Momentous Occasions is a photography business that shoots videos at college parties. The freshman class pays $1,000 in advance on March 3 to guarantee services for its party to be held on April 2. The sophomore class promises a minimum of $2,800 forming its formal dance and actually pays cash of 54,100 on February 28 at the dance Read the requirements The recognition a. Considering the $1.000 paid by the freshman class, the revenue was recognized occur on the same date cash was received