Landline is considering whether it should recognize revenue related to its arrangement with pru on a gross or net basis. in doing so, landline asks for your . prepare a memo addressing the following questions. base your analysis of the following questions on the relevant authoritative literature and discuss the support in that literature for your conclusions. be sure to cite the relevant components of the codificationin your discussion. citations are not required for journal entries.1.what are the accounting issue(s) and the relevant components of the authoritative literature? 2.should landline recognize revenue gross (i. e., as a principal) for the amount billed to the customerfor their time spent using the "1-900" number, or net (i. e., as an agent) for the net amount retained by landline? 3.what journal entries are necessary to appropriately account for each minute a customer spends using pru's "1-900" number?
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