Portabello Autos Ltd is a car retailer

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Portabello Autos Ltd is a car retailer. On 1 April 2020. Portabello sold a car to Lenny on the following terms: Contract price: £40,000 Payment terms: £20,000 on 1 April 2020, and the remaining £20,000, is due 31 March 2022. The contract states the terms are interest free however Lenny sells to similar customers and charges a market rate of 10% per annum. What is the amount of revenue that Portabello Autos should record to the Statement of profit or loss on the date of sale? Answer to the nearest ! O a £20,000 O b. E38,182 Oc£40,000 O d. £36,529