The following are independent situations. Based on the accrual basis of accounting, explain when the companies should recognize revenue.
a. You order a leather jacket from Aritzia online. You submit your credit card information, submit the order and receive the shipment in 14 days.
b. Telus Communications sends your cell phone bill for the month of March. Your bill shows the invoice date as March 31, 2017 and the payment is due April 15, 2017.
c. The Toronto Transit Commission (TTC) sells monthly bus passes. The September bus passes can be purchased in August. The bus pass then provides access to the TTC in September.

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Depreciation Expense.... Accumulated Depreciation. Unearned Professional Revenue... Professional Revenue Insurance Expense. Prepaid Insurance. Salaries Payable. 1. 7. 3,000 6,000 3,000 6,000 2. 2,000 8. 1,500 2,000 Cash 1,500 9. Cash 3. Rent Expense Prepaid Rent 4. Interest Expense.. 1,000 6,500 Unearned Professional Revenue.. 1,000 6,500 4,000 10. Cash 9,000 Interest Payable 4,000 Interest Receivable 9,000 5. Prepaid Rent.. 3,500 11. Interest Receivable 7,000 Interest Income 12. Cash Accounts Receivable. Cash 7,000 3,500 6. Salaries Expense Salaries Payable 5,000 8,000 5,000 8,000