please answer #1-8

On September 25, Otive Oil Distributoes receives an erder froen DeNarda Italian Sepermarkets foe 125 cases of extra virgin olive enl. Olive Oil accepts the onder, which needs to be delivered to DeNarda's warchouse and DeNasta aprees to pay within 30 days of the receipt of the product. Each case of extra virgin olive oil contains 12 bottles at a seling price of 57.50 cach. 0live Oul's cost as per botile is 53. The shipment is received at DeNarda's watehouse on Oct 2 and DeNarda mails a cheque to Olrve Oil at the ead of the agreed upen payment terms. Olive Ohl Distribulors used a contact based approach to revenue recognition. Reguired: a) ldentify the five stcpe of revenue recognition b) Apply case facts so each of the steps in (a) above c) Assuming the criteria are met, recoed Olive Oil's cntries related to these transactices. QUESTION 2 On January 2, 2022 Crekk Computers enters inte a centract witt Bison Protection, a wcll-established fiee prutection coenpany to uperase and install new computers at 65 work stations. As part of the contract Geck Cemputers also agrees to cennect and nctwork all of the compoten. Contract details include the following