Question 8 1 pts On December 22, 2020, BAGHDAD Company sold merchandise on account to Mosul Company amounting to P9 million. The accounts receivable on the books of BAGHDAD is still outstanding at the end of the reporting period. Mr. Hussein both serve in the Board of Directors of BAGHDAD and Mosul and in addition, Mr. Hussein can exercise significant influence over the financial and operating decisions of Mosul. How will BAGHDAD account for the sale on its year-end financial statements? Sales revenue to a related party, without any corresponding disclosure in the notes to the financial statements. Receivable from a related party, with corresponding dislosure as to the nature of the transaction in accordance with IAS 24. Sales revenue to an extomal customer, without any add tional disclosure in Its notes to the financial statements. Receivable from an extomal customer, with corresponding disclosure as to the nature of the transaction In accordance with IAS 24