Consider the following situations:
1. A customer purchases food items from Sysco Foods on May 2 on account. Sysco receives payment from the customer on May 7.
2. A customer pays in advance for a three-month subscription to Business Week on September 6. Issues are scheduled for delivery each week from October 1 through December 31.
3. Carnival Cruise collects cash on September 17 from the sale of a ticket to a customer. The cruise occurs on November 21.
4. On July 4, a customer preorders 50 sandwiches from Subway for a party. The sandwiches are prepared and delivered on July 7. Subway receives cash at the time of delivery.
Required:
For each situation, determine the date for which the company recognizes the revenue under accrual-basis accounting.