A & B Please

E13.9 Apply recognition criteria as outlined in the Conceptual Framework. LO7 A list of independent transactions is provided below. (a) Steel Tubes Ltd received $200000 cash from a customer in December 2019 in payment for special purpose tubing that is to be manufactured and shipped to the customer in February 2020. Ignore GST. (b) Tough Tyres Ltd received an item of equipment as settlement for goods sold on credit for $3000. Ignore GST. (c) The court has ordered Mining Deep Ltd to repair the environmental damage the mining has caused. The company has not yet received a quote of the estimated costs from a specialist environmental repair landscaping company and, as such, does not know the cost of the repair. Required Identify if an asset, liability, revenue or expense should be recognised in the year ending December 2019 and prepare the journal entry to record each transaction. Ignore GST