PCM, Inc., is a direct marketer of computer hardware, software, peripherals, and electronics. In a recent annual report, the company reported that its revenue is recognized upon receipt of the product by the customer." Required: 1. Indicate whether PCM's sales terms are FOB shipping point or FOB destination 2a. Assume PCM sold Inventory on account to eCOST.com on December 28 that was to be delivered January 3. The inventory cost PCM $29,000 and the selling price was $38,000. What amounts, if any, related to this transaction would be reported on PCM's balance sheet and income statement in December? 2b. Assuming the same Information from requirement 2a, what amounts, if any, related to this transaction would be reported on PCM's balance sheet and income statement in January? 3. Assume PCM purchased electronics on December 29 that were shipped that day and received on January 2. For these goods to be included in PCM's inventory on December 31, would the terms have been under FOB destination or FOB shipping point? int rences Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Reg 3 Indicate whether PCM's sales terms are FOB shipping point or FOB destination PCM's sales tems are under Reg 2A > Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Req3 Assume PCM sold inventory on account to eCOST.com on December 28 that was to be delivered January PCM $29,000 and the selling price was $38,000. What amounts, if any, related to this transaction would be balance sheet and income statement in December? (Select all that apply.) JUDU JU Balance sheet: $29,000 reported as inventory Income statement: $38,000 reported as sales revenue and $29,000 reported as cost of goods sold. Income statement: no amounts related to this transaction Balance sheet: $38,000 reported as accounts receivable (until collected) Balance sheet: $38,000 reported as accounts receivable Balance sheet: no amounts related to this transaction Balance sheet: $38,000 reported as accounts receivable (until collected), no inventory Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req3 JU Assuming the same information from requirement 2a, what amounts, if any, related to this transaction would be reported on PCM's balance sheet and income statement in January? (Select all that apply.) Balance sheet: $29,000 reported as inventory Income statement: $38,000 reported as sales revenue and $29,000 reported as cost of goods sold. Income statement: no amounts related to this transaction Balance sheet: 38,000 reported as accounts receivable (until collected) Balance sheet: $38,000 reported as accounts receivable Balance sheet: no amounts related to this transaction Balance sheet: $38,000 reported as accounts receivable (until collected), no inventory NOOOO