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Mr Cahill entered into a 12-month mobile telephone contract with the mobile telephone operator RTelecom...

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Accounting

Mr Cahill entered into a 12-month mobile telephone contract with the mobile telephone operator RTelecom Limited. The terms of contract are as follows: - Mr Cahill received a handset at the inception of the plan - Mr Cahill receives monthly access to Rtelecoms network and phone services - Mr Cahills monthly fixed fee is 99. RTelecom Limited sells the same handset for 250 and the same monthly prepayment contract without a handset for 100 per month. In accordance with IFRS15 what entries should be booked in respect of the provision of the handset to Mr. Cahill? Round to the nearest euro. a. DB Unbilled receivable 205, CR Revenue 205 b. DB Contract Liability 99, CR Revenue 99 c. DB Revenue 99, CR Contract Liability 99 d. DB Revenue 205, CR Unbilled receivable 205

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