Carla Vista Publishing Co. publishes college textbooks that are sold to bookstores on the following terms. Each title has a fixed wholesale price, terms f.o.b. shipping point, and payment is due 60 days after shipment. The retailer may return a maximum of 30% of an order at the retailer's expense. Sales are made only to retailers who have good credit ratings. Past experience indicates that the normal return rate is 12% and the average collection period is 72 days. The company follows IFRS. On August 8, 2020, Carla Vista shipped books invoiced at $23,000,000 (cost $18,000,000). Prepare the journal entry to record this transaction, including the expected returns. Carla Vista follows ASPE. (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 for the amounts.) Date Account Titles and Explanation Debit Credit August 8, 2020 (To record sale on account) August 8, 2020 (To accrue for sales returns) August 8, 2020 (To record cost of goods sold)