Identify the proper point to recognize revenue for each of the following transactions.

a. Creed Industries sells a machine in January with terms of 50 percent due on delivery in January and the remaining balance due three months later.

b. Pia Company collects an advance deposit of \(\$ 950\) in May toward the purchase of a \(\$ 4,000\) piece of equipment that is delivered to the customer the following month.

c. Juan Corporation receives payment in March at the time of delivery of a rebuilt engine for a forklift.