Commando Corp. agrees to sell 100 of its products to M&H Co. for P30,000 in August 2021. (P300 per product). The goods will be delivered to M&H over the following six months. The contract is updated after 60 merchandis are supplied, and Common offers to provide 80 more things for an extra P21,600 (P270 per station). Commonlo provided an extra 90 goods at the end of the year. All sales are made in cash upon delivery. Consider that the added term is a potential change to the original contract. That however much income will be recognised under the contract in 2021?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Commando Corp. agrees to sell 100 of its products to M&H Co. for P30,000 in August 2021. (P300 per product).
The goods will be delivered to M&H over the following six months. The contract is updated after 60 merchandises
are supplied, and Common offers to provide 80 more things for an extra P21,600 (P270 per station).
Commonlo provided an extra 90 goods at the end of the year. All sales are made in cash upon delivery.
Consider that the added term is a potential change to the original contract.
That however much income will be recognised under the contract in 2021?
Transcribed Image Text:Commando Corp. agrees to sell 100 of its products to M&H Co. for P30,000 in August 2021. (P300 per product). The goods will be delivered to M&H over the following six months. The contract is updated after 60 merchandises are supplied, and Common offers to provide 80 more things for an extra P21,600 (P270 per station). Commonlo provided an extra 90 goods at the end of the year. All sales are made in cash upon delivery. Consider that the added term is a potential change to the original contract. That however much income will be recognised under the contract in 2021?
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