On january 5, merkel inc. purchases office equipment for its new branch office from norbert company. merkel requests that the equipment be delivered after the renovation of the branch location is completed. on may 1, merkel informs norbert that it wishes delivery as soon as possible. the equipment is delivered on may 4. on what date should norbert recognize the related revenue?

The master manufacturing company has just announced a tender offer for its own common stock. master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. after the announcement of the offer, the stock closed on the nyse up 2.50 at $18.75. a customer has 100 shares of master stock in his cash account. the customer tells you that he wishes to "cash out" his position. you should recommend that the customer: