Exercise $3-2($Algo$)$ Determining when to recognize revenue LO C$1$

For each of the following separate situations, determine how much revenue is recognized in December $($using accrual basis

accounting$).$

a$.$ On December $7,$ Oklahoma City Thunder sold a $$112$ ticket to a basketball game to be played in March.

b$.$ Tesla sold and delivered a $$80,000$ car on December $25.$ The customer will not pay until February.

c$.$ Deloitte signs a contract on December $1$ to provide $40$ days of advisory services with receipt of $$32,000$ due at the end of the

contract. On December $31,75\%$ of the services have been completed.