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Taplop supplies laptop computers to large businesses. On 1 July 20X5, Taplop entered...

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Accounting

Taplop supplies laptop computers to large businesses. On 1 July 20X5, Taplop entered into a contract with TrillCo, under which TrillCo was to purchase laptops at $500 per unit. The contract states that if Trillcopurchases more than 500 laptops in a year, the price per unit is reduced retrospectively to $450 per unit.Taplop's year end is 30 June. (a) As at 30 September 20X5, TrillCo had bought 70 laptops from Taplop. Taplop therefore estimated that TrillCo's purchases would not exceed 500 in the year to 30 June 20X6, and Trillco wouldtherefore not be entitled to the volume discount. (b) During the quarter ended 31 December 20X5, TrillCo expanded rapidly as a result of a substantial acquisition, and purchased an additional 250 laptops from Taplop. Taplop then estimated thatTrillCo's purchases would exceed the threshold for the volume discount in the year to 30 June20X6.RequiredCalculate the revenue Taplop would recognise in:(a) Quarter ended 30 September 20X5(b) Quarter ended 31 December 20X5

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