Revenues are normally recognized when a company transfers promised goods or services to customers in the amount the company expects to be entitled to recelve. 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 $2,762 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 Compary pays $912 for magazine advertising to run in monthly publications each of the first three months of the year. c. Dell pays its computer service techniclans $383,500 in salaries for the two weeks ended January 7 . Answer from Dell's standpoint. d. lowa State University orders 73,000 football tickets from its printer and prepays $7.690 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 620 accounting texts at a cost of $100 each. The terms indicate that payment is due within 30 days of dellvery. t. During the last week of January, the campus bookstore sold 510 accounting texts recelved in (c) at a sales price of $130 each. 9. Fucllio Automotive Group pays its salespersons $13,500 in commissions related to December automobile sales. Answer from Fuclilo's standpoint. h. On January 31, Fucillo Automotlve Group determines that it will pay its salespersons $69,660 in commissions related to January sales. The payment will be made in early February. Answer from Fucilio's standpoint. 1. A new grill is recelved and installed at a Wendy's restaurant at the end of the day on January 31; a $14,550 cash payment is made on that day to the grill supply company. Answer from Wendy's standpoint. 1. Mall of America (in Bloomington, MN) had janitorial supplies costing $5,000 in storage. An additional $2,700 worth of supplies was purchased during January. At the end of January, $1,420 worth of fanitorial supplies remained in storage. k. An Emory State Universily employee works eight hours, at $22 per hour, on January 31 , however, payday is not until February 3. Answer from the university's point of view. 1. Wang Company paid $2,700 for a fire insurance policy on January 1. The policy covers 12 months beginning on January 1 . 1. A new grill is recelved and installed at a Wendy's restaurant at the end of the day on January 31; a $14,550 cash payment is made on that day to the grill supply company. Answer from Wendy's standpoint. 1. Mall of America (in Bloomington, MN) had janitorial supplies costing $5,000 in storage. An additional $2,700 worth of supplies was purchased during January. At the end of January, $1,420 worth of janitorial supplies remained in storage. k. An Emory State University employee works eight hours, at \$22 per hour, on January 31; however, payday is not until February 3. Answer from the university's point of view. 1. Wang Company paid $2700 for a fire insurance policy on January 1. The policy covers 12 months beginning on January 1 . Answer from Wang's point of view. m. Derek Incorporated has its delivery van repaired in January for $610 and charges the amount on account. n. Hass Company, a farm equipment company, recelves its phone bill at the end of January for $252 for January calls. The bill has not been paid to date. o. Martin Company receives and pays in January a $1,415 invoice (bill) from a consulting firm for services recelved in January. Answer from Martin's standpoint. p. Parillo's Taxi Company pays a $765 invoice from a consulting firm for services recelved and recorded in December. q. PVH Corporation, manufacturer of IZOD, ARROW. Van Heusen, Calvin Klein, and Tommy Hilfiger apparel among other brands, completes production of 1,200 men's shirts ordered by Macy's department stores at a cost of $50 each and dellvers the order in January. Answer from PVH Corporation's standpoint. Required: For each of the transactions, If an expense is to be recognized in January, Indicate the expense account title and the amount. Note: If expense is not recognized choose "None". For each of the transactions, if an expense is to be recognized in January, indicate the expense account title and th Note: If expense is not recognized choose "None