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Bill-and-Hold Sale Recognition
Recognizing revenue when the customer is billed and title passes, but the company keeps the goods in its warehouse at the customer's request.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Receivable | Asset (+) | 5,000.00 | - |
| Sales Revenue | Revenue (+) | - | 5,000.00 |
| Cost of Goods Sold | Expense (+) | 3,000.00 | - |
| Merchandise Inventory | Asset (-) | - | 3,000.00 |
💡 Accountant's Note
Under IFRS 15, if the customer controls the goods and has requested the delay in delivery, you can recognize the sale even if the items haven't physically moved.
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