Hello, I need help with the two parts below. I can't figure out the first one, and I keep getting the second one wrong. Thank you!

Part 1:

Compute the revenue to be recognized in fiscal year 2015 for the operating divension mentioned below. Show calculations.

Madoff Securities

Madoff Securities uses manufacturers agents who forward orders for alarm systems and the down payments. Madoff then ships their products from the factory to customers directly. The balance due is then billed directly to the customer, including shipping costs. Orders for $3,000,000 were received during the fiscal year ending November 30, 2015. Madoff received $300,000 in down payments; they billed $2,600,000 for goods and $50,000 in freight costs. Manufactures agents are paid a 10% commission on product price once goods are shipped to the customer. Madoff offers a 90-day warranty on goods after shipment, and the returns have been about 1% of sales. Revenue is recognized at the point of sale by this division.

Part 2:

A publishing company called Lil Tykes, Inc. is preparing its financial statements for its year ending December 31, 2016. They are not certain what the proper accounting treatment is for the following situation, so they have asked your group to consult and provide the appropriate accounting treatment.

Provide the journal entry or and an explanation of why an entry should not be made as of December 31, 2016. Provide calculations for the final solution if appropriate.

a)A competitor filed suit against Lil Tykes in December 2016 for industrial espionage, seeking damages of $350,000. Management and counsel have concluded that damages will most likely be awarded to the plaintiff. The amount of damages that will be rewarded cannot be reasonably estimated.

The answer I provided is below. However, I got it wrong.

"Since the amount of damages cannot be reasonably estimated, it shouldn't be included in their financial statements. Instead, this should be included in the notes accompanying the financial statements. The only time that it would be included in the financial statements is when the amount can be estimated, and the payment will be probable. This instance doesnt meet both criteria."