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16. Wiseman Ltd is offering the following conditions to customers who purchase goods with a minimum total of $5 000 in the one transaction: Initial
16. Wiseman Ltd is offering the following conditions to customers who purchase goods with a minimum total of $5 000 in the one transaction:
Initial deposit of 25% of purchase price.
Immediate delivery of goods purchased.
Interest rate of 10% p.a. charged on the outstanding balance.
Repayment of the balance (including the interest) over 36 equal monthly instalments.
Wiseman Ltd retains legal title to the goods until the final monthly payment has been made.
in this suituation, how can i prepare journal entries to recognise revenue
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