Revenues are normally recognized when a company transfers promised goods or services to customers in the amount the company exsects 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. The folowing transactions occurred in January a. McGraw-Hill Education uses $2,767 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 $888 for magazine advertising to run in monthly publications each of the first three months of the year, c. Dell pays its computer service technicians $396.500 in salaries for the two weeks ended January 7. Answer from Del's standpoint d. The University of Florida orders 75,000 season football tickets from its printer and pays $7.750 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 790 accounting texts at a cost of $93 each. The torms indicate that payment is due within 30 days of delivery 1. During the last week of January, the campus bookstore sold 420 accounting texts received in (e) at a sales price of $140 each Fucillo Automotive Group pays its salespersons $14.400 in commissions related to December automobile sales Answer from Fucilo's standpoint h. on January 31, Fucilo Automotive Group dotormine that it will pay ts salespersons $16.100 n commissions related to January sales. The payment will be made heary February. Answer from Follow I. A new gril is purchased and installed at a Wendy's restaurant at the end of the day on January 31; a $12,850 cash payment is made on that day. Destiny USA formerly Carousel Mal in Syracuse, NY) had janitorial supplies conting 30,000 orage. An addition $2,000 worth of supples was purchased during January. At the end of January, 51,600 worth of Janitorial supplies remained in kan works out hours, at $24 per hour, on January 31, however, payday is not und February 3. Answer from the university's point of view 1. Wang Company paid $3.300 for a fire insurance policy on January 1, The policy covers 12 months beginning on January 1. Answer from Wong's point of view. o, Martin Company receives and pays in January 31,365 nvoice (bill) from a consulting firm for service received in January, Answerton Martin's standpoint Hans Company, a formement company receives its phone bill at the end of January for $252 for January als The bit has not been paid to date. PVH Corp, manufacturer of 1200 ARROW, Van Heusen, Calvin Klein, and Tommy Hino apparel, complete production of 1,000 men's shirts ordered by Macy's department stores at a cost of $40 each and delivers the order. Answer from PVH Corp. 's wandpoint Required: For each of the transactions, an expense is to be recognized in January, indicate the expense account the and the amount. If expense is not recognized choose "None") Expense Account Af Expense incurred in Alected a D d