Dominum Corp. is a mining company that mines, produces, and markets teledine, a common mineral substance. The mineral is mined and produced in one large batch per year, as the mine is accessible only for a brief period in the summer due to severe weather conditions at the mine site. Dominum has an advance purchase contract with one customer that takes all of Dominum$$s output each year. The agreement allows the customer to return defective product for up to $60$ days from the date of delivery. Transactions in $20$X$6$ were:

$30$ August $186,000$ tonnes of teledine ore removed from the mine, at a cost of $$4,300,000.$

$30$ September All of the ore refined to $115,000$ tonnes of teledine, at a cost of $$640,000.$ A deposit is received from the customer for $$1,350,000(10\%$ of the contract amount$).$

$15$ October All of the teledine delivered to the customer, total contract price, $$13,500,000.$ At this point, $50\%$ of the contract amount is received. Dominum estimates, from historical experience, that $7\%$ of the goods might be returned.

$25$ November Five percent of the teledine is returned for full credit; ore had been improperly refined and the teledine was unusable; customer given full credit for $$675,000$ and the unusable teledine scrapped. No other returns are anticipated.

$30$ November Customer fully paid the final amount owing. using the below as headings,

Accounts receivable

Allowance

Cash

Contract Liability

Cost of goods sold

Deferred gross margin

Inventory

Loss of unsaleable product

Refund Liability

Revenue

Right to recovery asset

Sales

Sales returns

Unearned revenue

$1.$ Prepare all the journal entries to record these events assuming the critical event is at the point of delivery. total contract price is $$13,500,000$