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Bold Ltd sells a dining table to a customer for $500. To encourage early payment for the dining table, Bold offers the following payment terms:
Bold Ltd sells a dining table to a customer for $500. To encourage early payment for the dining table, Bold offers the following payment terms: 10% discount if payment is received upfront 5% discount if payment is received in 10 days Historically, 70 per cent of customers pay upfront, 20 per cent of customers pay within 20 days, and 10 per cent of customers pay on the due date. Applying the expected value approach, what is the revenue that Bold would recognise on the sale of the dining table in accordance with the requirements of AASB 15 Revenue from Contracts with Customers
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