Required: for each situation, determine the date for which the company recognizes the revenue under accrual-basis accounting.
1. american airlines collects cash on june 12 from the sale of a ticket to a customer. the flight occurs on august 16. august 16. june 12.
2. a customer purchases sunglasses from eddie bauer on january 27 on account. eddie bauer receives payment from the customer on february 2. january 27. february 2.
3. on march 30, a customer preorders 10 supreme pizzas (without onions) from pizza hut for a birthday party. the pizzas are prepared and delivered on april 2. the company receives cash at the time of delivery. march 30. april 2.
4. a customer pays in advance for a three-month subscription to sports illustrated on july 1. issues are scheduled for delivery each week from july 1 through september 30. september 30. revenue would be recognized as each magazine is delivered.