. JJ investments placed an order for a Mac Book Pro on 5 December

2019 from iMorestore in Dubai for USD500. The order was accepted and invoiced and shipped on 15January 2020, FOB destination point. Unfortunately, due to delays in the supply chaincaused by the corona virus the delivery was only made on 15 March 2020. JJ

investments has been experiencing cash flow problems and only made half payment on30 April 2020.

JJ investments year end is on 30 June. JJ investments offers brokerage services toindividuals and companies.

You are the accountant of JJ investments. Discuss the accounting effects of thetransaction above for the 30 June 2020 financial year. Hint: Use the dates to guide you.

GENERIC ANSWERS WILL NOT BE ENOUGH TO PASS: PLEASE APPLY YOUR KNOWLEDGETO THE SCENARIO ABOVE. (20 marks)

You may ignore the time value of money.

Information from any credible resource will be accepted.