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On 1 July 2021, Publicus sold a machine to a customer for 500,000 (excluding value added tax), and the customer paid in full when the
On 1 July 2021, Publicus sold a machine to a customer for 500,000 (excluding value added tax), and the customer paid in full when the machine was delivered on that date. In addition to the machine. Publicus agreed to provide maintenance for thirty months ending on 31 December 2023, Publicus has allocated 446,000 of the transaction price to the machine and 54,000 to the maintenance agreement. How much revenue should Publicus recognise from this sale in its income statement for the year to 31 December 2021?
a. 467,600
b. 500,000
c. 456,800
d. 446,000
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