S According to the revenue principle, revenues should be recognized when they are earned, which happens when the company performs acts promised to the customer. For most businesses, this condition is met at the point of delivery of goods or services. Required: The following transactions occurred in September. For each of the transactions, if revenue is to be recognized in September, indicat the amount. Transaction a. A customer pays $21 cash for 21 song files from Apple's iTunes store. Answer from Apple's standpoint. b. The Home Depot provides a carpet installation for $3,100 cash. A comparable installation by other companies costs $4,100. Shaw Communications is scheduled to install digital cable at 1,550 homes during the month of c. September. The installation charge is $122 per home. The terms require payment within 30 days of installation. Answer from Shaw's standpoint. d. Shaw completes the installations described in (c). Answer from Shaw's standpoint. Shaw receives payment from customers for the installations described in (c). Answer from Shaw's standpoint. e f. A customer purchases a ticket from WestJet in September for $610 cash to travel in December. Answer from WestJet's standpoint. < Prev 3 of 3 www www Next Amount