How to recognise revenue in this situation ?
In some businesses some savings installment scheme runs to sale product by adding one more installment in all installments. Now how to record so much big amount of sale in one or two days...of whole period installment.
Example: A jewellery shops run such savings scheme of installment amount of Rs. 1000 for 11 months and by adding 1 more installment amount , in total of Rs. 12000 sale gold to each customer in the end of scheme. Now if its run for 300 customers then in total it amounts Rs. 36,00,000. Now how to record such receipts/sale in the accounts???
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