Oriole Publishing Co. publishes college and university textbooks that are sold to bookstores on the following terms. Each title has a fixed wholesale price, terms fo.b. shipping point, and payment is due 60 days after shipment. The retailer may returna 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% and the average collection period is 72 days. The company follows IFRS. On August 8, 2023, Oriole shipped books invoiced at $30,000,000 (cost $24,000,000). Prepare the journal entry to record this transaction, including the expected returns. (Credit account titles are outomatically indented when the amount is entered Do not indent. manucily On October 3,2023,$1,400,000 of the invoiced July sales were returned according to the return policy, and the remaining $28,600,000 was paid. Prepare the journal entries for the return and payment (Credit occount tities are outomatically indented when. the amount is entered. Do not indent manually. If no entry Is required, select "No Entry" for the account titles and enter Ofor the amounts. Ust all debit entries before credit entries.) October 3, 2023 (To record collection on account)