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SHL Limited (SL) sold an equipment costing Rs. 150,000 to BHL Limited (BL) on installment basis. The Installment is Rs. 80,000 at end of each year for three years. Control was transferred on delivery at start of contract dated 01-July-2015.
SL financial year ended on 30th June. Applicable market interest rate is 10%.
Required:
Question 1: Pass all journal entries as per IFRS-15 for above transactions till 30th June 2018
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