We are running a business where our customers paying installments every month and in return we deliver them products at the end of last installment.except this we make a draw every month and winner of draw gets rewards like vehicles,jewellery and iphones etc.we have also a plan if anyone gives us sale,we give them rewards as i mentioned above.we make cash purhcases and give them to our winners.we also give them commision on target completion.my question is what accounting treatments are needed to be done here.do we consider these a sale or gifts.what journal entries are required to be passed.any help would be highly appreciated.
CAclubindia
