Read and respond to the following questions in the attached exercise on revenue recognition issues for Survey Monkey.

Assume that Black Squirrel Design, Inc., signs up for the Platinum plan at Survey Monkey on December $1,2015.$ The customer pays the entire $$780$ on March $1.$ How will Survey Monkey record this customer$$s payment? What asset and$/$or liability accounts are affected?

Continue the same example from Item

#$1.$ If Survey Monkey has a December $31$ year end, how much revenue related to the Platinum plan purchased by Black Squirrel Design will Survey Monkey recognize at December $31,2015?$ How much revenue from the Black Squirrel Design purchase will be recognized during $2016?$