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i give thumbs up fast. THANKS! Ivanhoe Ltd. sells goods to Dew Corporation during the calendar year ending December 31, 2023. Dew is a key

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image text in transcribedi give thumbs up fast. THANKS!

Ivanhoe Ltd. sells goods to Dew Corporation during the calendar year ending December 31, 2023. Dew is a key customer to Ivanhoe and a volume discount scheme has been established to strengthen the relationship further. The volume discount scheme is as follows: for sales for the year of 4,280 units, a discount of 3% is granted; for sales for the year reaching 5,160 units, a discount of 5% will be granted; and, finally, if sales for the year reach 8,380 units, a discount of 6% will be granted. For the first half of the year, Ivanhoe sold to Dew, on account, 3,500 units at a sales price of $133,000. Because the second half of the year is slower for sales, it has been Ivanhoe's experience that sales to Dew for the year will be 6,160 units. Prepare the journal entries including any volume discount rebates that Ivanhoe should make to record the sale on account of 3,500 units for the first half of the year assuming Ivanhoe follows IFRS. Ignore any cost of goods sold entry. (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 0 for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit (To record sales on account) (To record discount rebate) eTextbook and Media Prepare the journal entries including any volume discount rebates that Ivanhoe should make to record the sale on account of 3,500 units for the first half of the year assuming Ivanhoe follows ASPE. Ignore any cost of goods sold entry. (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 0 for the amounts. List all debit entries before credit entries.) Assume that by December 31,2023 sales to Dew totalled 5,960 units. Prepare the year end entry assuming Ivanhoe follows IFRS. (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 0 for the amounts. List debit entry before credit entry.) eTextbook and Media Assume that by December 31, 2023 sales to Dew totalled 5,960 units. Prepare the year end entry assuming Ivanhoe follows ASPE. (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 0 for the amounts. List debit entry before credit entry.)

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