View Policies Current Attempt in Progress Nate Begessiens a 1-year contract with Sarasota Video. The terms of the contract are that Nate is required to pay a nonrefundable initiation fee of $80. No annual membership fee is charged in the first year. After the first year, membership can be renewed by paying an annual membership fee of $6 per month. Sarasota determines that its customers, on average renew their annual membership three times after the first year before terminating their membership. What amount of revenue should Sarasota recognize in its first year? Revenue in first year $ eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer Show Attempt History Current Attempt in Progress X Your answer is incorrect. Whispering Company sells goods to Metlock Company during 2020. It offers Metlock the following rebates based on total sales to Metlock. If total sales to Metlock are 10,100 units, it will grant a rebate of 2%. If it sells up to 19.700 units, it will grant a rebate of 5%. If it sells up to 32,800 units, it will grant a rebate of 5%. In the first quarter of the year, Whispering sells 10,400 units to Metlock at a sales price of $114.400. Whispering based on past experience, has sold over 37.900 units to Metlock, and these sales normally take place in the third quarter of the year. What amount of revenue should Whispering report for the sale of the 10,400 units in the first quarter of the year. -10400 Revenue eTextbook and Media List of Accounts Attempts: 1 of 5 used Submit Answer Save for Later Your answer is partially correct. Novak, Inc. is a distributor of prepaid telephone cards to customers in its convenience stores, When Novak sells the cards, it then pays the telecommunications company, TeleExpress, less a commission of 20 percent of the selling price to customers. Novak receives $4.400 in cards in January 2020. Novak sold 50% of the cards in February, 35% in March, and 15% in April. It costs TeleExpress $2,920 to provide the telephone service on the cards sold by Novak Indicate how much income Novak should recognize in January, February March, and April. (If answer is 0, please enter 0. Do not leave any fields blank.) $ January income 0 $ 740 February income $ 518 March income $ 222 April income e Textbook and Media Attempts: 1 of 5 used Submit Answer Save for later