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Justify whether the transactions are considered as a sale

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Reference no: EM132773082

The following transactions are taken from the business books of Just Bhd. In all cases, the financial year end is 31 March 2020.

  1. Goods at selling price of RM25,000 were sent out to Harun Sdn Bhd on 14-day sale or return basis on 25 March 2020.
  2. On 1 March 2020, Just Bhd received RM900 cash from the sale of a television set, whereby the customer, Ahmad had agreed to pay a 40 % down payment and the balance in six monthly instalment beginning 1 April 2020.

Required:

Problem 1: Justify whether the above transactions are considered as a sale.

Reference no: EM132773082

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