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Crane Inc. offers its customers a 3% volume discount if they purchase at least $2.2 million of its products during the calendar year. On March
Crane Inc. offers its customers a 3\% volume discount if they purchase at least $2.2 million of its products during the calendar year. On March 31, 2023, Crane has made sales of $722,000 to Shamrock Inc. In the previous two years, Crane sold over $3.3 million to Shamrock in the period from April 1 to December 31. How much revenue should Crane recognize for the first three months of 2023? Revenue $ Show journal entries under IFRS including the entry when Shamrock Inc. meets the discount threshold. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Show journal entries under ASPE including the entry when Shamrock Inc. meets the discount threshold. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
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