A company sells goods to a customer for 12,500. The contract stipulates that the customer will pay
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A company sells goods to a customer for £12,500. The contract stipulates that the customer will pay £2,500 when the goods are delivered (and the customer obtains control of them) and will then pay a further £10,000 three years after delivery. Assuming an effective interest rate of 8% per annum, calculate the amount of revenue which should be recognised at the delivery date.
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Sale of goods Revenue is recognised when all the following conditions hav...View the full answer
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Related Book For
International Financial Reporting A Practical Guide
ISBN: 978-1292200743
6th edition
Authors: Alan Melville
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