Question: Current Attempt in Progress Presented below are three revenue recognition situations. a. Sandhill sells goods to ATN for $920,000, payment due at delivery. b.

Current Attempt in Progress Presented below are three revenue recognition situations. a. Sandhill sells goods to ATN for $920,000, payment due at delivery. b. Sandhill sells goods on account to Cullumber for $809,000, payment due in 30 days. C Sandhill sells goods to Blossom for $522,000, payment due in two installments, the first installment payable in 18 months and the second payment due 6 months later. The present value of the future payments is $484,700. Indicate the transaction price for each of these situations and when revenue will be recognized. Transaction price Revenue will be recognized (a) $ (b) (c) $

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