Pine Inc. manufactures and sells organic essential oils used in massage, aromatherapy, and reflexology treatments. The company grants customers the unconditional right to return these products within 30 days if not fully satisfied. Experience to date suggests that 10% of sales are returned to Pine by its customers. Any returned inventory can be resold by Pine. On February 1st, Pine had credit sales (on account) of $15,000. The items had a cost to Pine of $12,000. On February 5th goods that sold for $1,000 and had a cost to Pine of $800 were returned. The customer was given full credit for their return. The returned items were included in Pine's inventory. Required: Prepare the journal entries for Pine for each of February 1 and February 5th presuming Pine uses IFRS and the perpetual method of accounting for inventory. Debits must come before and be on a separate line from credits. You are not required to provide explanations, but you should show calculations. There are extra rows in the grid. Date Debit account Credit account Debit $ Credit $ IFRS and perpetual method Feb. 1 Feb. 5