alleryStart learning →An instalment sale has cash price Rs 50,000 plus Rs 6,000 interest. Revenue at sale date?
ARs 6,000
BRs 50,000
CRs 56,000
DRs 44,000
Answer & Solution
Correct answer: B. Rs 50,000
The sales price excluding interest, Rs 50,000, is recognised on the date of sale and interest is recognised over time.
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