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Journal entryIntermediateVariant — group VG.IFRS15.000605Published

Question · Contract assets, contract liabilities and receivables

On 10 September 20X2, Pellevoisin, an office furniture manufacturer, accepts an order of 80,000 and receives on the same day a deposit of 30% of that amount. The furniture will be delivered, and control transferred to the customer, in November 20X2. Record the entry on 10 September 20X2.

Order price
80,000
Deposit as a percentage of the price
30 %
Your answer
  1. Line 1

    Account Cash

  2. Line 2

    Account Contract liability

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