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Presented below are three revenue recognition situations. a. Crane sells goods to NTN for $1,037,000, payment due at delivery. b. Crane sells goods on account

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Presented below are three revenue recognition situations. a. Crane sells goods to NTN for $1,037,000, payment due at delivery. b. Crane sells goods on account to Cullumber for $732,000, payment due in 30 days. c. Crane sells goods to Blossom for $498,000, payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is $462,300. Indicate the transaction price for each of these situations and when revenue will be recognized. Indicate the transaction price for each of these situations and when revenue will be recognized

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