Haitham WLL is a retailer of all-weather camping equipment. Haitham WLL has a year end of 31 December. The company is having trouble selling one model the BD60,000 Desert Star tent outfit. Haitham WLL is offering incentives to encourage customers to buy the Desert Star before 31 October 2020. 1. Customers buying the Desert Star before 31 October 2020 will receive a period of interest free credit, provided they pay a non-refundable deposit of BD6,000, an instalment of BD30,000 on 1 January 2021, and the balance of BD24,000 on 31 December 2022. 2. A years service plan for the Desert Star, normally worth BD3,000, is included free in the price of the Desert Star. On 1 October 2020, a customer agreed to buy a Desert Star outfit. The customer paid the BD6,000 deposit, and delivery was agreed for 1 January 2021. As the sale has now been made, the CEO of Haitham WLL wishes to recognise the full BD60,000 sale price of the caravan in the financial statements for the year ended 31 December 2020. Note: Assume a 10% discount rate. Required: (a) State the revenue recognition requirements of IFRS 15, Revenue from Contracts with Customers. (b) State the number of elements which form part of the transaction price. (c) Calculate the transaction price. (d) State the amount of the transaction recognised during the year to 31 December 2020. (e) Show the journal entry for the transaction recognised during the year to 31 December 2020.