Using Firm Guidance to Research a Revenue Question •You are an accountant working for Hotel Co. Your supervisor has asked you to research what amount of revenue Hotel Co. should recognize for transactions booked by customers on Expedia. com.
•Expedia generally collects the full transaction price from the customer, then withholds a small fee (say, $10) from each transaction and remits the balance to Hotel Co.
•Should Hotel Co. record the gross transaction fee or only the net amount it receives from Expedia. com? Use nonauthoritative firm guidance to assist in your response.
•Start off with the codifications (606?), then move to the non-auth. sources.