Response to the following problem:
Intel Corporation produces Pentium© processors that drive many computers. Suppose Intel has completed production of 1,000 processor units that it expects to sell to Gateway. Assume that Intel's cost to manufacture each processor is $140 and that Intel sells each processor for $375.
Apply the revenue principle to determine (1) when Intel should record revenue for this situation and (2) the amount of revenue Intel should record for the sale of 1,000 processors.