Journal Entry: April 1. Five Step Process for Revenue Recognition: 1.Identify the contract with customers 2. Travis and Barker have been in partnership over the last year. Receivable (AR) icon next to the contract. Instructions for making a payment online: You will need to sign in using your email and password; Don't have an account? Click here to set up an account. Transfer of Accounts. 24. Travis is an outstanding business partner committed to delivering stellar results. Travis has a mindset where he is constantly striving to be better.