Answer all 3 parts please

Identifying Customer Control and Recording Advance Payment Allstar Inc. sells uniforms and spirit clothing to local school teams. Allen High School placed an order for 30 items for a total selling price of $1,320 on September 14, 2020. The cost of the merchandise to Allstar Inc. is $669. To place the order, Allstar Inc. required a $300 down payment on September 14, 2020. Delivery of the order to Allen is completed on October 7, 2020, at which time the remaining balance was collected from Allen. a. Demonstrate the five steps of the revenue recognition process for this scenario. Description of revenue recognition step Application of the revenue recognition step Step 1 Identify the contract assets and liabiliti Retailer will provide merchandise to custor Step 2 Identify the performance obligation(s). One performance obligation to provide me Step 3 Determine the transaction price. Calculation of transaction price: 1320 Step 4 Allocate the transaction price to the pe Allocation of transaction price (from Step Step 5 Recognize revenue when the performa Retailer recognizes revenue when merchar b. Record Allstar's entry on September 14, 2020. Account Name Dr. Cr. Cash Due from Consignee 0 0 0 c. Record Allstar's entries on October 7, 2020. Account Name Dr. Cash 0 Cr. 0 - 0 ood 0 0 Sales Revenue To record the sale of product. 0 0 0 0 To record the cost of sale of product