Scenario #2: Iron Chef to Go (14 points) On December 10, 2017, Stephanie March-Flay, the co-owner of Iron Chef to Go, agreed to cater an employee appreciation party for Molto Batali Enterprises for a flat fee of $50,000, with 25% due in advance and the remainder due on the date of the party. Accordingly, Iron Chef to Go received a check for $12,500 from Molto Batali Enterprises on December 10 On December 30, 2017, Iron Chef to Go purchased supplies for the party for $8,100 and paid cash to its supplier. On January 30, 2018, Iron Chef to Go purchased food for the party for $10,650 and paid cash to its supplier The party was held on February 3, 2018. Iron Chef to Go used all of the food and supplies purchased in December and January and paid $8,270 to its staff for their services used at the party Amount How much revenue, if any, was Iron Chef to Go allowed to recognize in its 2017 GAAP income statement from its catering agreement with Molto Batali Enterprises? (2 points) a) What amount, if any, was reported as accounts receivable from Molto Batali Enterprises by Iron Chef to Go in its GAAP balance sheet at December 31, 2017? (2 points) b) What amount, if any, was reported as unearned revenue from Molto Batali Enterprises by Iron Chef to Go in its GAAP balance sheet at December 31, 2017? (2 points) c) SUPPORTING COMPUTATION OR BRIEF EXPLANATION REQUIRED: (2 points each8 points) Date: Identify the exact date on which Iron Chef to Go recorded revenue from the Molto Batali Enterprises party according to GAAP and indicate the amount of the revenue recorded d) Amount: Date: Identify the exact date on which Iron Chef to Go recorded expense from the Molto Batali Enterprises party according to GAAP and indicate the total amount of the expense recorded Amount: UPPORTING COMPUTATION REQUIRED