Part II: Partl should be completed before beginning Part II. Background MU just developed new universal titanium replacement mixer blades. These replacement blades can be used in most mixers currently on the market. MU is selling these blades with a right of return for 3D days. On January 15, management believes it is probable that 10% of the titanium blades sold will be returned. This belief is based on signicant experience in estimating returns on other mixer blades MU has developed and sold in the past. MU estimates the cost of processing any returned blades will be insignicant. On January 15. KH purchases and pays for 4D blades at a cost of $20 each. The cost to manufacture each blade was $14. On January 31, MU's assessment of potential returns had not changed from its assessment on January 15. Requirements: Review ASE BEE1525. Record all initial accounting entries for MU for the month of January based on the current guidance on revenue recognition in ASE 605. Include references to the guidance to support your proposed accounting. Show any calculations you make to support your journal entries. Review ABC DlSEZ through 23. Prepare a detailed explanation of each of the ve steps of revenue recognition. Record all initial accounting entries for MU for the month of January based on the new guidance on revenue recognition in ASE . Include references to the guidance to support your proposed accounting. Show any calculations you make to support your journal entries. What, if anything. is the difference in revenue recognized for the month of January under ASE 6-05 and ABC 1306