Craig's Bowling Ltd$.$ operates several bowling centres $($for games and equipment sales$).$ The following transactions occurred in November.

If revenue is to be recognized in November, indicate the account title and amount of revenue. If revenue is not to be recognized in

November, explain why.

Important Tip:

Use account titles that represent the source. For example, providing games to customers would be Games Revenue.

a$.$ Craig's collected $$15,000$ from customers for games played in November.

b$.$ Craig's sold bowling equipment inventory for $$8,000$; received $$3,000$ in cash and the rest on account. $($Consider

only the effect on revenue here. The cost of sales $[$expense$]$ for this transaction will be analyzed in M$3-4($e$).)$

c$.$ Craig's received $$4,000$ from customers on account who purchased merchandise in October.

d$.$ The bowling leagues gave Craig's a deposit of $$2,500$ for the upcoming winter season.