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In accordance with IAS 37, briefly discuss how Budget Manufacturing (Pty) Ltd should account for the reimbursement received from the supplier in its financial statements

In accordance with IAS 37, briefly discuss how Budget Manufacturing (Pty) Ltd should account for the reimbursement received from the supplier in its financial statements for the year ended 30 June 2023. Also provide the general journal entry required to account for the reimbursement. Ignore VAT and Income tax.

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