Halden SA (financial year = calendar year) had estimated its annual customer rebates at EUR 500,000 at the start of the year; it recognised 375,000 of expense for this in the first three quarters. In the fourth quarter, it revises the annual amount of the rebates to 640,000 (case data). It does not publish a separate interim report for the fourth quarter. Calculate the amount to be recognised in the fourth quarter.
- Revised annual amount of the rebates
- 640,000
- Expense recognised in the first three quarters
- 375,000