Revenues are normally recognized when the delivery of goods or services has occurred, there is persuasive evidence of an arrangement for customer payment, the price is fixed or determinable, and collection is reasonably assured. The amount recorded is the cash-equivalent sales price. The following transactions occurred in September 2016:

a. A popular ski magazine company receives a total of $12,745 today from subscribers. The subscriptions begin in the next fiscal year. Answer from the magazine company's standpoint.. b. On September 1, 2016, a bank lends $2,700 to a company; the note principal and $324 ($2,700 x 12 percent) annual interest are due in one year. Answer from the bank's standpoint. c. Fucillo Hyundai, Inc., sells a truck with a list, or "sticker," price of $21,850 for $19,450 cash. d. Macy's department store orders 1,180 men's shirts for $25 each for future delivery from Phillips-Van Heusen Corporation, manufacturer of Izod, Arrow, Van Heusen, and Calvin Klein shirts. The terms e. Phillips-Van Heusen Corporation completes production of the shirts described in (d) and delivers the f. Phillips-Van Heusen receives payment from Macy's for the events described in (d) and (e). Answer fromm g. A customer purchases a ticket from American Airlines for S710 cash to travel the following January. require payment in full within 30 days of delivery. Answer from Phillips-Van Heusen's standpoint. order. Answer from Phillips-Van Heusen's standpoint. Phillips-Van Heusen's standpoint. Answer from American Airlines's standpoint. h. Ford Motors issues $21.6 million in new common stock. i. Michigan State University receives $18,740,000 cash for 71,000 five-game season football tickets. j. 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 $1,530,000 warehouse. At the signing, Precision receives a check for $207,000 as a deposit on the future construction. Answer from Precision's standpoint. within three months. Answer from Dell's standpoint. Answer from Sears's standpoint. I. A customer orders and receives 15 personal computers from Dell; the customer promises to pay $8,500 m. Sears, a retail store, sells a S160 lamp to a customer who charges the sale on his store credit card Required For each of the transactions, if revenue is to be recognized in September, indicate the revenue account title and amount. (If revenue is not recognized choose "None". Round "Interest revenue" answer to 2 decimal places.) Revenue Account Revenue