$1\mathrm{.}5)$ Prepare all the general journal entries to account for the contract with

MasterCraft $($Pty$)$ Ltd in the records of Machine Mania $($Pty$)$ Ltd for the $30$

September $2023$ financial year in accordance with the IFRS $15$ of the

International Financial Reporting Standards.

Note: The general journal entry relating to the maintenance contract should be

provided for in $1$ entry $($ie$.$ maintenance services for the applicable period

should be recognised in one general journal entry$).$

$$ Journal dates are required.

$$ Journal narrations are not required.

$$ Round all answers to the nearest Rand.

$(16$ marks$)$

HFAC$232-1-$Jul$-$Dec$2024-$FA$2-$CP$-$V$2-03072024$

$93$

ANNEXURE I: FORMATIVE ASSESSMENT $2$

$1\mathrm{.}6)$ Prepare all the general journal entries to account for the contract with

MasterCraft $($Pty$)$ Ltd in the records of Machine Mania $($Pty$)$ Ltd for the $30$

September $2024$ financial year in accordance with the IFRS $15$ of the

International Financial Reporting Standards.

$$ Journal dates are required.

$$ Journal narrations are not required.

$$ Round all answers to the nearest Rand.

Competency Framework Reference:

B$1$

REPORTING FUNDAMENTALS