wat Ltd. end on b Briefly explain whether revenue should be regnized under the folloting cumstances : O Prime Advertising Ltd recieved sh.100,000 on s March 2oo7 to develop a commercial for Jitahidi Junior Academy. The commercial broadcast on 27 May 2007. The financial statements of Prime Advertising 31 March 2007 DUIT Ltd. Sold goods worth sh. 500,000 to Quick Deliveries Ltd. one cash on delivery basis. The goods were delivered on 2816 May 2007 and accepted by Quick Deliveries Ltd. on the seme date. The chief Accountant of Quick Deliveries Ltd assured the finance Manager of Jit Ltd. that the cheque was being processed would be despattched in due course. At the time of finalising the preparation of the accounts for the year ended 31 May 2007 the cheque had not been recieved. and with ABC Ltd whose year end i 30 April 2001 received a fim purchase order for goods From Xy z 14 d. on 21 Apr 2001. The company despatched the goodi on 30 April 2007 bu xyz lide had clawd busness for shock . Laking. The qouds were however delivered and received on 2 May 2001