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Problem 1: Nike Ltd sold goods to a customer for a total consideration of $181 500, payable 24 months after delivery. The customer obtained control of the products on delivery. The cash selling price of the goods amounted to $150 000 and represents the amount that the customer would pay upon delivery instead of over 24 months. Nike Ltd will recognize:
1) Revenue of $181 500 on delivery;
2) Revenue of $181 500 after 24 months;
3) Revenue of $150 000 on delivery and interest income of R31 500 over 24 months;
4) Revenue of $150 000 on delivery and interest income of R31 500 after 24 months.
you are thinking about buying a new car. the salesman tells you that you can pay 3000 today and 5000 in two years and
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