Question: (a) Explain the principles and criteria for revenue recognition under the earnings approach. (b) For each scenario noted in E6-1, discuss when revenue should be

(a) Explain the principles and criteria for revenue recognition under the earnings approach.

(b) For each scenario noted in E6-1, discuss when revenue should be recognized under the earnings approach. Provide the journal entries that would be recorded to recognize the revenue under the earnings approach.

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