Revenue recognition is a difficult concept that requires professional judgement. True False The monetary unit concept allows recognition of elements using non-financial measures such as customer loyalty. True False The availability of Afformation to decision makers before the information loses its ability to influence decisions is referred to as timeliness. True False Steven Garcia started a snow removal business he called Sheridan Services. Qver the fall months, Sheridan pre-sold snow removal services to be performed from November through April of the following fiscal year, inclusive. If payment is made in full by November 1. a 10% discount is allowed. In October, 282 customers took advantage of the discount and purchased the winter snow removal service package priced at $500 each, before the discount. Due to the heavy snowfall, another 340 customers purchased the package for $600 each in December, and in January, another 208 purchased it for the reduced price of $550 each. Calculate the amounts for each of the three groups of payments, and insert in the following table for each month the amount of revenue to be recognized by Sheridan, as well as totals. Assume that the amount of revenue is allocated evenly over the months of service. (Do not leave any answer field blank. Enter 0 for amounts.) Steven Garcia started a snow removal business he called Sheridan Services. Qver the fall months, Sheridan pre-sold snow removal services to be performed from November through April of the following fiscal year, inclusive. If payment is made in full by November 1 , a 10% discount is allowed. In October, 282 customers took advantage of the discount and purchased the winter snow removal service package priced at $500 each, before the discount. Due to the heavy snowfall, another 340 customers purchased the package for $600 each in December, and in January, another 208 purchased it for the reduced price of $550 each. Calculate the amounts for each of the three groups of payments, and insert in the following table for each month the amount of revenue to be recognized by Sheridan, as well as totals. Assume that the amount of revenue is allocated evenly over the months of service. (Do not leave any answer field blank. Enter 0 for amounts.)