QUESTION 7 In each of the following situations, state at which date, if any, revenue will be recognised: 1. A contract for the sale of goods is entered into on 1 May 2021. The goods are delivered on 15 May 2021. The buyer pays for the goods on 30 May 2021. The contract contains a cause that entitles the buyer to rescind the purchase at any time. This is in addition to normal warranty conditions. 2. A contract for the sale of goods is entered into on 1 May 2021. The goods are delivered on 15 May 2021. The contract contains a clause that states that the buyer shall only pay for those goods that it sells to a third party for the period ended 31 August 2021. Any goods not sold to a third party by that date will be returned to the seller