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Crane Growth Company is testing a number of new agricultural seeds that it has recently harvested. To stimulate interest. it has. decided to grant five

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Crane 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. Crane Growth sells these seeds on account for $2,100,000 (cost $840,000 ) on April 2, 2023. Customers are required to pay the full amount due by June 15, 2023. The company follows IFRS. (a) Your answer is correct. Prepare the journal entry for Crane Growth at April 2. 2023, assuming Crane Growth estimates returns of 20% based on prior experience. (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. List all debit entries before credit entries.) Assume that one customer returns the seeds on July 1, 2023. Prepare the journal entry to record this transaction, assuming this customer purchased $140,000 of seeds from Crane Growth and paid by June 15. (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. List all debit entries before credit entries. Round answers to 0 decimal places, eg. 5,275.) Assume that one customer returns the seeds on July 1, 2023. Prepare the journal entry to record this transaction, assuming this customer purchased $140,000 of seeds from Crane Growth and paid by June 15. (Credit occount 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 0 for the amounts. List all debit entries before credit entries. Round answers to 0 decimal places, eg. 5,275.) List of Accounts Attempts: 1 of 5 used (d1) The parts of this question must be completed in order: This part will be available when you complete the part above

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