Revenues are normally recognized when a company transfers promised goods or services to customers in the amount the company expects to be entitled to receive. Expense recognition is guided by an attempt to match the costs associated with the generation of those revenues to the same time period. Assume that the following transactions occurred in January: a. McGraw-Hill Education uses $2,770 worth of electricity and natural gas in its headquarters building for which it has not yet been billed. b. At the beginning of January, Turner Construction Company pays $894 for magazine advertising to run in monthly publications each of the first three months of the year. c. Dell pays its computer service technicians $394,500 in salaries for the two weeks ended January 7. Answer from Dell's standpoint. d. The University of Florida orders 78,000 football tickets from its printer and pays $7,810 in advance for the custom printing. The first game will be played in September. Answer from the university's standpoint. e. The campus bookstore receives 780 accounting texts at a cost of $95 each. The terms indicate that payment is due within 30 days of delivery. f. During the last week of January, the campus bookstore sold 550 accounting texts received in (e) at a sales price of $130 each. g. Fucillo Automotive Group pays its salespersons $14,600 in commissions related to December automobile sales. Answer from Fucillo's standpoint. h. On January 31, Fucillo Automotive Group determines that it will pay its salespersons $50,360 in commissions related to January sales. The payment will be made in early February. Answer from Fucillo's standpoint. i. A new grill is received and installed at a Wendy's restaurant at the end of the day on January 31; a $13,650 cash payment is made on that day to the grill supply company. Answer from Wendy's standpoint. j. Mall of America (in Bloomington, MN) had janitorial supplies costing $5,600 in storage. An additional $3,300 worth of supplies was purchased during January. At the end of January, $1,600 worth of janitorial supplies remained in storage. k. An Iowa State University employee works eight hours, at $25 per hour, on January 31; however, payday is not until February 3. Answer from the university's point of view. I. Wang Company paid $3,600 for a fire insurance policy on January 1. The policy covers 12 months beginning on January 1. Answer from Wang's point of view. Required: For each of the transactions, if revenue is to be recognized September, indicate the revenue account title and amount. (If revenue is not recognized choose "None".) Answer is complete but not entirely correct. Revenue Account Affected a. None b. Interest revenue C. Sales revenue $ d. None e. Retained earnings $ f. None g. None h. None i. None j. Ticket sales revenue Amount of Revenue Earned in September $ 0 26 18,350 0 0 0 0 0 0 0 k. None I. Unearned revenue $ 10,000 m. Cost of goods sold $ 270