On July 10.2020, Headlands Ltd. sold GPS systems to retailers on account for a selling price of $860,000 (cost $688,000). Headlands grants the right to return systems that do not sell in three months following delivery, Past experience indicates that the normal return rate is 15%. By October 11, 2020. retailers returned systems to Headlands and were granted credits of $78,000. The company follows IFRS Prepare Headlands'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. If no entry is required, select "No Entry" for the accopint titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 10, 2020 Accounts Receivable 782000 Sales Revenue 782000 In recordato Date Account Titles and Explanation Debit Credit July 10, 2020 Accounts Receivable 782000 Sales Revenue 782000 (To record sale) July 10, 2020 Cost of Goods Sold Inventory (To record cost of goods sold) Prepare Headlands's journal entries to record the $78,000 of actual returns on October 10, 2020. (Hint:Use Accounts Payable for the amount returned.) (Credit account tites 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 for the amounts.) Date Account Titles and Explanation Debit Credit October 10.2020 (To record returns from customers) Od ber 10.2020 (To record return of inventory) October 10, 2020 (To adjust refund liability for end of right of return) October 10.2020 1 (To adjust cost of goods sold for end of right of return)