Sheridan Appliance Co. manufactures low-price, no-frills appliances that are in great demand for rental units. Pricing and cost information on Sheridan's main products are as follows. Customers can contract a purchase either individually at the stated prices or for a three-item bundle with a price of $2,000. The bundle price includes delivery and installation. Sheridan provides delivery and installation as a stand-alone service for any of its products for $70. The company follows IFRS. Respond to the requirements related to the following independent revenue arrangements for Sheridan. (a) On June 1, 2023, Sheridan sold 70 washer/dryer units without installation to Carla Vista Rentals for $56,000 (on credit). Carla Vista is a newer customer and is unsure of how this product will work in its older rental units. Sheridan offers a 60 -day return privilege and estimates, based on prior experience with sales of this product, that 4% of the units will be returned. Prepare the journal entries for the sale and related cost of goods sold on June 1, 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.)