Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to be entitled to receive. The amount recorded is the cash-equivalent sales price. Assume that the following transactions occurred in September A popular si misgocine company receives a lotal of $13,045 today from subscribers. The substribbons begins in the next fiscal year. Answer from the magazine company's standpoint On September of the current yes, a blends $1.500 to a company, the role principal od $180 ($1.500 12 percent annual Interest are due in one year. Answer from the bank's standpoint. crucillo Autorouve Group offering a wide variety of cor and truck brands sells a Ford F 150 truck with a list or sucker,"pricor $20,450 for $18.450 cash. Macy's department store orders 1010 men's shirts for $16 each for future delivery from PVII Curp, manufacturer of IZOD ARROW. Van Heusen, Calvin Klein, and Tommy Hilfiger and other brand-name apparel. The terns require payment in full within 30 days of delivery Answer from PVII Corp's standpoint e. PVH Corp. completes production of the shirts described in I) and delivers the order. Answer from PVH's standpoint. PVH Corp. receives payment from Mecys for the events described in id and (). Answer from PV's standpoint 9. A customer purchases a ticket from American Airlines for $620 cash to travel the following January. Answer from American Airlines's standpoint h. Ford Motor Company issues 521 million in new common stock Michigen State University receives $18R10000 cash for 89.000 seven game season football tickets to be played in the upcoming season | Michigan State plays the first football game referred to in ( k Precision Builders signs a contract with a customer for the construction of a new $1.510,000 warehouse. At the signing, Precision receives a check for $708 000 as A deposit on the future construction Answer from Precisions standpoint Best Buy receives inventory of 13 laptop computers from Dell; Best Buy promises to pay $8,200 within three months. Answer from Dell's standpoint m. Amazon.com delivers a $230 lamp to a customer who charges the purchase on his Amazon.com Store Cord. Answer from Amazon's standpoint Required: For each of the transactions, if revenues to be recognized in September, indicate the revenue account title and mount. If revenue is not recognized choose "None".) Revenue Account Affected Amount of Revenue Earned In September & . 01 e. 1 9 1 J k ! m