NET On July 10, 2020, Buffalo Ltd, sold GPS systems to retailers on account for a selling price of $20.000 Cost 1656,000). Buffalo grants the right to return systems that do not sell in three months folowing delivery. Past experience indicates that the normal return rate is 15%. By October 11, 2020, retailers returned systems to Buffalo and were granted credits of $76,000. The company follows IFRS Prepare Buffalo's Journal entries to record the sale on July 10, 2020. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. Ir no entry required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 10, 2020 (To record sale) July 10, 2020 (To record cost of goods ) HOW LIST ACCOUNTS LINK TO THE Prepare Buffalo's journal entries to record the $76,000 of actual returns on October 10, 2020. Use Accounts Payable for the amount returned.) (Credit account bites are automatically Indented when the amount is entered. Do not indent manually. If ne entry is required, select "No Entry for the account titles and writer for the amount) Account Tities and Explanation Debit Credit October 10, 2030 Date to record returns from customers) Od 10. 2030 (To record sale! July 10, 2020 (to record cost of goods sold) SHOW LIST OF ACCOUNTS LINE TO TEXT Prepare Buffalo's yournal entries to record the $76,000 of actual returns on October 10, 2020. (Hint: Use Accounts Payable for the amount returned.) (Credit account titres are automatically Indented when the amount is entered. Do not indent manually. If no entry is require, select "No Entry for the account titles and enter for the amounts) Date Account Tities and Explanation Debit Credit October 10, 2020 (To record returns from customers) October 10, 2020 (To record return of inventory) October 10, 2020 (To adjust refund libility for end of night of return) October 10, 2020 To adjust cost of goods sold for end of right of return)