Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to receive. The amount recorded is the cash-equlvalent sales price. The following transactions occurred in September a. A popular ski magazine company recelives a total of $12.545 today from subsoribers. The subecriptions begin in the next fiscal year.Answer from the magazine company's standpoirt b. On September 1 of the current year, a bank lends $3,000 to a company; the note principal and $360 ($3,000 12 percent) annual interest are due in one year. Answer from the bank's standpoint. c. Fucilio Automotive Group (affering a wide variety of car and truck brands) sells a Ford F-150 truck with a list or "sticker'price of $20,450 for $18,150 cash d. Macy's department store orders 1,010 men's shirts for $21 each for future delivery from PVH Corp, manufacturer of 1Z0D, ARROW, Van Heusen, Calvin Kein, and Tommy i payment in full within 30 days of delivery. Answer from PVH Corp.'s standpoint e PVH Corp. completes production of the shirts desaribed in (d) and delivers the order. Answer from PH's standpoint f. PVH Corp. receives payment from Macy's for the events described in (d) and (e). Answer from Phr's standpoint g. A customer purchases a ticket from American Aitines for $720 cash to travel the following January. Answer from American Airlines's standpoint Ford Motor Company issues $21.7 miltlion in new common stock I. Michigan State University J- Michigan State plays the frst football game referred to in 0) k Precision Builders signs a contract with a customer for the construction of a new $1,530,000 warehouse. At the signing. Precision receives a check for $197,000 as a deposit on the future construction Answer from Precision's standpoint. L A customer orders and receives 12 personal computers from Dell; the customer promises to pay m.Sears, a retail store, sells a $260 lamp to a oustomer who charges t $9,300 within three months. Answer from Delir's standpoint the sale on his Sears credit card. Answer from Sears's standpoint Required: the-rue acoort me and amount (of revenue is not recognized choose "None" Round "inberest revenue" For each of the transactions, f revenue is to be recognized in Sephember, indicate decimal places.)