Crane Publishers sells textbooks to universities across Canada. On July 10, 2021, Crane entered into a contract with Hinton University to supply 600 accounting textbooks at a price of $114 per book to be paid on September 25, 2021. The books cost Crane $79 each. Crane's return policy states that any unsold books can be returned within 90 days of delivery. The books were delivered on August 25, 2021. Crane estimate returns at 10% of sales. Hinton returns 20 books on September 15, 2021, and 40 books d September 30, 2021. 1. Determine the transaction price. 2. On what date should revenue be recognized? 3. Prepare all journal entries required by Crane to record the transactions with Hinton University