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The non refundable liability should be accounted as revenue because it is not refundable now no matter he pays us the further amount or not, we have transferred the building so performance obligation is completed
Though we will recognise liability for 95% of the remaining amount but this 150000 we have received.
I am confused that will the company be required to return the 150000 amount to the customer if it repossess the building? If yes then why is it called non refundable
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