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Briefly discuss how the journal entries in (b) above will be different on each of the respective dates if the contract between Luxury Ltd and

Briefly discuss how the journal entries in (b) above will be different on each of the respective dates if the contract between Luxury Ltd and Anniversary Hotels Ltd was cancellable. The preparation of journals in your answer is not required. Your answer must comply with the requirements of only IAS 15, Revenue Communication and layout of the answer.

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