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State at which date if any revenue will be recognize explain

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Reference no: EM132505891

Point 1: A contract for the sale of goods is entered into on 1 May 2019. The goods are delivered on 15 May 2019. The contract contains a clause that states that the buyer shall pay only for those goods that it sells to a third party for the period ended 31 August 2019. Any goods not sold to a third party by that date will be returned to the seller.

Question 1: State at which date, if any, revenue will be recognized? Explain

Reference no: EM132505891

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