Identifying the Five Steps in the Revenue Recognition Process A customer is interested in buying a pair of tennis shoes from Zap's, an online retailer, on June 1 for $200. The customer took advantage of a special offer, allowing for a purchase of a second pair of shoes at half price. The customer purchased and paid for both pairs of shoes with a credit card for a total of $300. Shipping was paid by Zap's (FOB destination) and the shoes were expected to arrive at the customer's home on June 4 . The standalone selling price of each pair of shoes was $200. Use this example to identify and demonstrate the five steps of the revenue recognition process