ITH Sdn. Bhd. (ITH) has delivered digital equipment worth RM118,800 to six customers on 20 September 2021. Before the delivery, the customers have each paid 50% of the selling prices. The customers are given 14 days from the date of delivery to return the equipment if they are not satisfied with the quality of the equipment. A full refund will be given by ITH if the equipment were returned by the customers anytime during the 14-day period. If the goods are not returned at the end of the 14 days after the date of delivery, the balance 50% of the selling prices of the equipment will become due immediately. Required: (a) Describe as to how the transactions for each of the cases above should be accounted for in the financial statements, supported with reasons to why revenue should or should not be recognised for the year ended 30 September 2021. (20 marks) (b) Explain the rationale for the principles relating to revenue recognition as prescribed by IFRS 15/MFRS 15 Revenue from Contracts with Customers. (5 marks) [Total: 25 marks]