Initial Post due by Wednesday at 23:59 pm EST The following transactions are July activities of Jones Recreation Inc., which operates several centers. If revenue is to be recognized in July, indicate the amount. If revenue is not to be recognized in July, explain why. 1. Jones collected $12,000 from customers for services related to games played in July. 2. Jones billed a customer for $250 for a party held at the center on the last day of July. The bill is to be paid in August. 3. The men's and women's leagues gave Jones advance payments totaling $1,500 for the fall season that starts in September. The following transactions are July activities of Jones Recreation Inc., which operates several centers. If an expense is to be recognized in July, indicate the amount. If an expense is not to be recognized in July, explain why. 4. Jones paid $1,500 to plumbers for repairing a broken pipe in the restroom. 5. Jones paid $2,000 for the June electricity bill and received the July bill for $2,500, which will be paid in August. 6. Jones paid $5,475 to employees for work in July