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HB Limited signed a contract with Mr Masia (customer) on 1/3/18. HB Limited would supply and install a designer fireplace before 30/5/17. Mr Masia

 

HB Limited signed a contract with Mr Masia (customer) on 1/3/18. HB Limited would supply and install a designer fireplace before 30/5/17. Mr Masia agreed to pay R15 000 in advance, on 1/4/2018. HB Limited supplies and installs the fireplace on 10/5/2018, on which date the customer obtains control. Mr Masis pays the promised consideration on 30/4/2018 (in advance but after due date. REQUIRED: Journalise from the information given: 1. Assume contract is non-cancellable 2. Assume the contract is cancellable with non-performance

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