Question 2 (14 points) Saved Tavey Phwification Limited (IPL), which IFRS, es portas e IPL heater for such as me Depot and Canada The The payment to thing Powl with payment willen 45 days after shipment Up to 6 months for spenent, es may return a maximum of 40% of the westers, with an experience showing the typhilly venge 12% Separate from the return policy, TP offers a 30 days warranty on its products to additional cost to the rete or the relations customs TTL's focords show that waranty as were 3% et ses On November 16, 2021. TP shipped heaters to retailers and invorced the retales $150,000. The cost of goods was $120,000 Required: 1. Prepare all of the applicable journal enly or entries to record the transaction on November 16. 2. On December 16, IPL Julfilled warranty casines which wounted to $2.000. Prepare the applicable journal entry or entries for this situation 3. On December 31, $135,000 was collected relating to the November 16 transaction while S15,000 worth of heaters was returned Prepare the applicable journal entry or entries for the collection and retum hp Question 2 (14 points) Saved Tavey Phwification Limited (IPL), which IFRS, es portas e IPL heater for such as me Depot and Canada The The payment to thing Powl with payment willen 45 days after shipment Up to 6 months for spenent, es may return a maximum of 40% of the westers, with an experience showing the typhilly venge 12% Separate from the return policy, TP offers a 30 days warranty on its products to additional cost to the rete or the relations customs TTL's focords show that waranty as were 3% et ses On November 16, 2021. TP shipped heaters to retailers and invorced the retales $150,000. The cost of goods was $120,000 Required: 1. Prepare all of the applicable journal enly or entries to record the transaction on November 16. 2. On December 16, IPL Julfilled warranty casines which wounted to $2.000. Prepare the applicable journal entry or entries for this situation 3. On December 31, $135,000 was collected relating to the November 16 transaction while S15,000 worth of heaters was returned Prepare the applicable journal entry or entries for the collection and retum hp