Property Ltd owns several investment properties, including buildings that is occupied by several tenants. Crows Ltd is a major tenant and currently has a lease for three floors of the building for the next 5 years. The property manager of Property Ltd recently negotiated an agreement with Crows Ltd for naming rights for the buildings with CrowsLtd. The agreement allows Crows Ltd to erect signage with their name and logo on the roof of the building, and for the building to be named Crows Tower. The naming rights are for a period of five years, commencing 1 June 2010, and expiring at the end of their current lease, 31 May 2015. Crows Ltd is responsible for all costs associated with erecting, maintaining and subsequently removing the signage on the roof of the building owned by Property Ltd. In return for the naming rights Crows Ltd was required to pay a non-refundable fee of $110,000 to Port Ltd. Crows Ltd paid the amount in full on 1 June 2010. Financing benefits are immaterial in this transaction because interest rates are very low. The property manager suggested that the transaction would be great for Port Ltd's profit margin because it generates sales revenue for the sale of property rights but has no cost of sales. However, the accountant was not so sure about the suggested accounting treatment and looked it up in the Company's accounting policy manual. On discovering that Property Ltd did not have an accounting policy for transferring naming rights for its buildings, the accountant asked for advising. From the perspective of Property Ltd, what is the main accounting policy issue(s) that must be resolved in deciding how to account for the transaction with Crows Ltd? Identify one principle that is relevant to the accounting policy issue(s) that you identified in question 1 AND explain why you chose that principle. Providing reference: (AASB, para.; or Conceptual Framework, Chapter, para) Identify another principle that is relevant to the accounting policy issue(s) that you identified in question 1. Providing a reference (AASB , para.; or Conceptual Framework, Chapter , para.) Describe an accounting policy to account for transactions for the transfer of naming rights, such as the transaction with Crows Ltd, in the books of Port Power Ltd. policy be different from the policy suggested by the property manager. describing . How much income in relation to the naming rights should Port Ltd recognise in profit of loss for the year ended 30 June 2010? Please present your answer in the format ($) REFERENCING.