Discuss whether the following scenarios would preclude a contract from a customer under the revenue recognition standard.
a. Tarik Company is not certain it can recognize revenue of sales made to a customer because it has no formal written agreement.
b. Pipes Plumbing provides services to Help- Out Hands, a not- for- profit organization. Pipes gives Help- Out an estimate for the services. After Pipes completes the services, it sends Help- Out an invoice including the statement,“ no payment required.”