Question: Please help me in solving this as per IFRS 1 5 ( 1 5 ( Also calculate annual service revenue with the discount factor )

Please help me in solving this as per IFRS 15(15(Also calculate annual service revenue with the discount factor)) Modern Engineering ((ME)) entered into a contract for 3−3-year maintenance services with a manufacturing concern. Same service will be rendered over 3−3-year period. Contract required 100%100% upfront fees of Rs.300,000.300,000 payable at the time of agreement on January 1,2018.1,2018. Prevailing market interest rate for ME is 12%.12%. ME prepares its financial statements on 3131st December every year.
Required:
All journal entries for above transaction.

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