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Question 3 A company sells goods to a customer on the understanding that the customer will pay 5,000 immediately and will then pay two further
Question 3 A company sells goods to a customer on the understanding that the customer will pay 5,000 immediately and will then pay two further instalments of 5,000 each at annual intervals. Assuming an effective interest rate of 10% per annum, calculate the amount of revenue which should be recognised at the date of the sale
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