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‘Still i don’t understand how to recognizing Revenue if a company act as agent on behalf of other company ‘
Explain this topic with an example
“what amount should be recognizing in profit and lossWhen a person sells goods on behalf of another, the person is acting as the agent and “the other” is the principal
Those goods don’t belong to the agent so the only revenue that should be recognised in the agent’s records is the commission that the principal will pay to the agent
And please don’t ask me to do your homework in future!
OK?
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