Bagus Bhd sold goods with a cost of RM200,000 to

Bagus Bhd sold goods with a cost of RM200,000 to Cekap Bhd at an invoice a non-cash amount to RM290,000. In payment for the goods received, Cekap Bhd transferred to Bagus Bhd non-cash assets, the amount of which cannot be determined reliably. The normal selling price of Bagus Bhd’s goods is a 50 percent mark-up on cost. Required: i) Explain how the above transaction should be recognised in accordance to MFRS 15 Revenue Recognition. (4 marks) (CLO1:PLO1:C2) ii) Show the journal entries in the acc

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