Cam's Computers Inc. is a local distributor of laptops in Ottawa. To stimulate interest in the midst of the pandemic, it has decided to offer an unconditional right to return its products if customers are not fully satisfied. On March 3rd, Cam sold total laptops on account for $150,000 (cost of $35,000). Customers are required to pay the amount due by March 31st (at the end of the month). Cam estimates total returns of 15% based on past experience. The company follows IFRS.

A. What amount of Refund Liability would be recorded on March 3rd?

B. What amount of Sales Revenue would be recorded on March 3rd?

C. What amount of Cost of Goods Sold would be recorded on March 3rd?