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 $$64.$ 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 $$96.$ 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 $$64.$ Use this example to identify and demonstrate the five steps of the revenue recognition process.