On July 10,2023 , Cullumber Ltd. sold GPS systems to retailers on account for a selling price of $860,000 (cost $688,000 ). Cullumber 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, 2023, following the collection on account, retailers returned systems to Cullumber and were granted credits of $78,000. The company follows IFRS