Kingbird Publishing Co. publishes college textbooks that are sold to bookstores on the following terms. Each title has a fixed wholesale price, terms tob. shipping point, and payment is due 60 days after shipment. The retailer may return a maximum of 30% of an order at the retailer's expense. Sales are made only to retailers who have good credit ratings. Past experience indicates that the normal return rate is 12%. The costs of recovery are expected to be immaterial, and the text books are expected to be resold at a profit. (c) On July 1, 2020, Kingbird shipped books invoiced at $13,300,000 (cost $10,640,000. Prepare the journal entry to record this transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually if no entry is required, select "No entry" for the account tittes and enter ofor the amounts)