The following are independent situations that require professional judgement to determine when to recognize revenue from the transactions. For each scenario, identify what is being "sold": goods, services, or a combination. 1. Costco sells you a one-year membership with a single, one-time upfront payment. This non-refundable fee is paid at the time of signing the contract, and entitles you to shop at Costco for one year. A is being sold. 2. DOT Home and Patio sells you patio furniture on a "no money down, no interest, and no payments for one year" promotional deal. The furniture is delivered to your home the same day. A is being sold. 3. The Toronto Blue Jays sell season tickets online to games in the Rogers Centre. Fans can purchase the tickets at any time, although the season does not officially begin until April 1. The season runs from April 1 through September each year. Payment is due in full at the time of purchase. A is being sold. 4. CIBC lends you money in August. The loan and interest are repayable in full in two years. A is being sold. 5. Students pre-register for fall classes at Seneca College in August. The fall term runs from September to December. A is being sold. 6. Roots sells you a sweater. In August, you place an online order and charge it to your RBC credit card. The sweater is shipped and arrives in September. In October, you receive the RBC credit card statement and pay the amount due. A is being sold. 7. In March, Hometown Appliances sells a washing machine with an extended warranty plan for five years. The washing machine will not be delivered to the customer until June. Payment is due on delivery. The extended warranty plans are normally sold separately. A is being sold. 8. Premier Health Clubs sells you a membership with an initiation fee (which covers a medical assessment) and an ongoing monthly fee. The initiation fee is payable at the time of the medical assessment and approximates the cost of the medical assessment. A is being sold.