Use the following information for questions 1 and 2. The Canon Corporation sells ten copiers to the Title Company on October 15 for $40,000. Canondelivers the copiers to Title on October 20; Title pays $16,000, and agrees to pay the balance onNovember 10. 1. Under the cash basis, how much revenue should Canon recognize in October?a) $0b) $16,0000) $24,000 d) $40,000