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 purchases

contract with one customer that takes all of

Dominum's$$output$$each year. The agreement allows the

customer$$to r defective product for up to $60$ days from the

date of delivery. transaction in $20$X$6$ were$\mathrm{.}30$ August$186,000$ tonnes of teledine$$ore

removed from mine, at a cost of $$4,300,000\mathrm{.}30$ September All of the ore refined to $115,000$ tonnes of

telefdine, at a cost of $$640,000.$ A deposit is received from the

customer$$for $$1,350,000(10\%$ of the contract amount$)\mathrm{.}15$ October$$All of the teledine$$delivered to the

customer, total contract price, $$1,350,000,$ At this point, $50\%$ of

the contract amount is received. Dominum$$estimate 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, the customer is given full credit

for $$675,000$ and the unusable teledine$$scrapped$.$ No

other returns are anticipated$\mathrm{.}30$ November$$Customer fully paid the final

amount owing$\mathrm{.}1.$ Assets the five steps revenue recognition and determine when

the performance obligation is complete. Prepare all the journal

entries record these events$\mathrm{.}2.$ If the customer instead asked for Dominum to hold onto $30\%$ of

the production until the customer asked for delivery. how would the

journal entries requirement $1$ change?$$