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For each of the following separate situations, determine how much revenue is recognized in December...

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Accounting

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For each of the following separate situations, determine how much revenue is recognized in December (using accrual basis accounting) a. On December 7, Oklahoma City Thunder sold a $104 ticket to a basketball game to be played in March. b. Tesla sold and delivered a $72,000 car on December 25. The customer will not pay until February c. Deloitte signs a contract on December 1 to provide 40 days of advisory services with receipt of $24,000 due at the end of the contract. On December 31, 75% of the services have been completed. Revenue recognized in December Situations a. Sale of a ticket to a basketball game b. Sale of a car on credit c. Contract to provide advisory services

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