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Delta Airlines books a reservation for a one-way flight to Orlando for Ming Tsai on...

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Accounting

Delta Airlines books a reservation for a one-way flight to Orlando for Ming Tsai on April 12. Delta charges $425 to Tsai's Visa card on April 13 and receives the cash from Visa on May 1. The trip flight commences on May 15. The ticket is nonrefundable. Required: Identify the performance obligation(s) and the timing of revenue recognition of each. Explain whether the revenue should be recognized over time or at a point in time.

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