Question 2 of 8

Question 2 of 8 View Policies Current Attempt in Progress - / 20 Wildhorse Grov.rth Company is testing a number of new agricultural seeds that it has recently harvested. To stimulate interest, it has decided to grant five of its largest customers the unconditional right to return these products if not fully satisfied. The right of return extends for four months. Wildhorse Growth sells these seeds on account for S 2,100.000 (cost $ 1,100,000) on April 2, 2020. Customers are required to pay the full amount due by June 15, 2020. The company follows IFRS Prepare the journal entry for Wildhorse Growth at April 2, 2020. assuming Wildhorse Growth estimates returns of 20% based on prior expe rience. (Credit account titles are automatically indented when the amount is entered. mt indent manually. If no entry is requird, select No Entry for the account titles and enter O for the armunts) Date Account Titles and Explanation April 2, Accounts Receivable 2020 Sales Revenue Refund Liability (To record sale on account) April 2, Cost of Goods Sold 2020 finish goods inventory Inventory (To record cost of goods sold) eTextbook and Media List of Accounts Debit Credit