During the Christmas season in late December 2023, Pharoah Limited sells 56 non-refundable $56 gift cards for a total of $3,136. The gift cards have an expiration date of March 31, 2024. Pharoah estimates that 10% of the gift cards will not be redeemed by customers. In January, 2024, 15 gift cards are redeemed for merchandise that cost $570. In February, 2024, a further 35 gift cards are redeemed for merchandise that cost $1,260. Finally in March, 2024, a further 2 gift cards are redeemed for merchandise that cost $66 and the remaining 4 gift cards outstanding expire. (a) Prepare the appropriate journal entry for December, 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent monually. If no entry is required, select "No Entry" for the occount titles and enter Ofor the amounts, List debit entry before credit entry) Sheridan Manufacturing inc. is a local manufacturing company. Rather than sell its product directly, Sheridan ships its finished goods inventory to Splish Retailing Ltd., who sells the product for Sheridan on consignment. During 2023, Sheridan ships $114,000 in merchandise to Splish. At the end of 2023, Splish has sold 65% of the merchandise for $63,500, Splish notifies Sheridan of the sales, retains a 20% commission, and remits the cash due to Sheridan. (a) Prepare all the necessary journal entries on the books of Sheridan Manufacturing to record the consignment transactions. (Credit occount titles are cutomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter 0 for the amounts. List all debit entries before credit entries.) Hornework 5 - Chapter 6 Question 7 of 8 +12 On May 15, 2023, Crane Ltd sold conveyor systems to Windsor Inc. on account for a selling price of $456,000(c0st$296,400) terms n/30. Crane grants the right to return systems that do not sell within two months following delivery. Past experience indicates that the normal return rate is 10%. On July 11, 2023. Windsor returned systems to Crane and was granted credits of $36,000. By the time Windsor returned the systems, Crane's account had been paid in full. (a) Assuming Crane follows IFRS, prepare Crane's journal entries to record the sale on May 15, 2023, including any expected returns. (Credit account tities are outomatically indented when the omount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts. List all debit entries before credit entries.)