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Qucstion 1 (5 marks) ABC company his in agrement with its customers that it will provide a 59 solume discount to its customers if they
Qucstion 1 (5 marks) ABC company his in agrement with its customers that it will provide a 59 solume discount to its customers if they purchase $3 millich of its product during the calendar year On June 30, 2022, ABC already sold 52 million to Aura company on accormt. In last 3 years ABC sold more thin \$2 million to Aura in the period between fuly I to December 31 . Requirements: a) How much revenue should ABC recognize in the first 6 months of 20229 b) What entry ABC- should make on June 30, 20222 ? b) If Aura compamy meets the discount thresheld (target), what entry should ABC make upon payment? d) If Aura compury fuils to meet the discount threshold, What entry should ABC make upon payment
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