Hand-in Homework E3.2 page 3-39 E3-2 (LO1) AP For the following independent situations, use professional judgement to determine when the company should recognize revenue from the transactions: 1. WestJet Airlines sells you a nonrefundable airline ticket in September for your flight home at Christmas 2. Leon's Furniture sells you a home theatre in January to be delivered in early February. A 3. The Toronto Blue Jays sell season tickets to games in the Rogers Centre online. Fans can purchase the tickets at any time, although the season does not officially begin until March. It runs from March through October. 4. RBC Financial Group lends you money at the beginning of August. The loan and the interest are repayable in full at the end of November. 5. In August, you order a sweater from Amazon online. Amazon ships the sweater to you in September and you charge it to your Visa credit card. In October, you receive your Visa bill and pay it. 6. You pay for a one-year subscription to Canadian Business magazine in May. 7. You purchase a gift card from iTunes in December to give to your friend for Christmas. Your friend uses the gift card in January. Copyright @2019 John Wiley & Sons Canada, Lid 134 > -12 1 Current Attempt in Progress At December 31, 2024, Sandhill Company made an accrued expense adjusting entry of $1.100 for salaries On January 4, 2025, it paid salaries of $4,300: $1,100 for December salaries and $3,200 for January salaries (a) Prepare the December 31 adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts List all debit entries before credit entries) Date Account Titles Dec. 31 To accrue salaries at year end Q D Debit D ASUS D G Credit