Assume that one customer returns the seeds on July 1, 2020. Prepare the journal entry to record this transaction, assuming this customer purchased $150,000 of seeds from Cullumber Growth. The customer had already paid by June 15 for the delivery. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date July 1. 2020 July 1, 2020 Account Titles and Explanation (To record return from customer) Returned Inventory (To record return of inventory) Debit 150000 Credit 150000 Cullumber Growth Company is testing a number of new agricultural seeds that it has recently harvested. To stimulate interest, it has decided to grant five of its largest customers the unconditional right to return these products if not fully satisfied. The right of return extends for four months. Cullumber Growth sells these seeds on account for $1,550,000 (cost $600,000) on April 2, 2020. Customers are required to pay the full amount due by June 15, 2020. The company follows IFRS