Question 1: Green Air enters into a contract with a customer to supply furniture on 31 December 2021. Control of the furniture transfers to the customer on that date. The price stated in the contract is $650,000 and is due for payment on 31 December 2024. Market rates of interest available to this particular customer are 10%. Required: Explain how this transaction should be accounted for in the financial statements of Green Air for the year ended 31 December 2021 and 2022