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GLK supplies laptop computers to large business. On 1 July 2 0 2 4 : GLK entered into a contract with Chilli, under which Chilli
GLK supplies laptop computers to large business.
On July : GLK entered into a contract with Chilli, under which Chilli was to purchase laptop at $unit
The contract states that if TrillCo purchases more than laptops in a year, the price per unit is reduced retrospectively to $unit GLK year end is June.
As at September Chilli had bought laptops from GLK
GLK therefore estimated that Chillis purchases would not exceed units in the year to June
Chilli would therefore not be entitled to the volume discount.
During the quarter ended December Chilli expanded rapidly as a result of a substantial acquisition, and purchased an additional laptops from GLK
GLK then estimated that Chillis purchases would exceed the threshold for the volume discount in the year to June
Required:
Record revenue at the period of quarter ended September
Record revenue at the period of quarter ended December
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