Zigna Ltd sold goods priced ₹9,00,000 to Sigma Ltd. on July 1, 2010 for a credit period of two months, which is also the normal credit period in the industry to which Zigna LTd belongs. Zigna allows for delayed payment but not exceeding a total of 12 months from the date of sale. In such case, the customer is required to pay a interest for the total period @ 4% p.a. the rate of interest prevailing in the industry is 14% p.a. Show how revenue is to be recognized when Sigma Ltd. makes the payment

(a) Within two month-period and

(b) At the end of 12 months.