Need help asap responding to questions A-B-C below:

The Wonder Woman Corporation recently decided to introduce a customer loyalty program. Under this program, for every purchase of a Gal Gadot product on its website, Wonder Woman will offer the customer one point for every $3 spent. Points can be redeemed starting 90 days after the purchase, by entering a code received via email. Each point earns the customer $1 of savings ($1

off their purchase).

During the trial period, customers purchased Gal Gadot goods for $120,000. Wonder Woman hired the consulting group "Estimates Are Us" to estimate the redemption rate of the points earned in future periods (by design no points can be redeemed during the trial period). The consultants expect customers to redeem 75% of the points earned. These consultants are experts and offer very reliable estimates.

Wonder Woman reported $120,000 of revenues for the trial period.

Additional Information: Assume all Gal Gadot goods that customers bought during the trial period, totaling $120,000, were delivered by the end of the trial period, and that all purchases were done in even multiplications of $3.

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a. When taking into consideration the new revenue recognition standard (Topic 606 - ASU 14-09), is there any issue with the amount of revenue recognized for the trial period? Explain why or why not.

b. Is there an alternative amount that should be recognized? If yes, what is it? Explain your answer briefly and show any related computations. Record the recognition of revenue for the transaction(s) that occurred during the trial period.

c. Due to some unexpected regulation, Wonder Woman had to cancel its loyalty points program before any points were redeemed (but after the revenue from the trial period had been recognized). Record the effect this regulatory change had on Wonder Woman's revenue.