Peace Limited uses a perpetual inventory system and follows IFRS. On July 10 it sold goods to Flower Inc. on credit for $60,000, terms 2/10, n/30. The cost of the merchandise sold was $40,000. Peace expects a return rate of 4%. The impact of Peace's July 10 journal entries would be total sales revenue of $60,000 $20,000 $57,600 $19,200