Your boss has asked for your help with the following revenue transactions.

Your company, Construction Corporation, is building a multi-unit residential complex.

The first category of units are selling for $150,000 each and require a deposit from buyers of $20,000. The deposit is only refundable if construction of the units is not completed. The remainder of the selling price is payable on completion when the buyer obtains physical possession of the unit.

The second category of units are selling for $170,000 each. They require a non-refundable deposit of $30,000 and progress payments each month during construction of the unit. Any remaining balance is due when the buyer obtains physical possession of the unit. This higher price and different payment structure allows the buyer to lock in the specific location of their unit in the complex.

With reference to ASC606, explain to your boss how and when to record revenue for these two categories of units.