Sheridan Publishing Co. publishes college and university textbooks that are sold to bookstores on the following terms. Each title has a fixed wholesale price, terms f.o.b. shipping point, and payment is due 60 days after shipment. The retailer may return a maximum of 30% of an order at the retailer's expense. Sales are made only to retailers who have good credit ratings. Past experience indicates that the normal return rate is 12% and the average collection period is 72 days. The company follows IFRS. (c) Your answer is partially correct. On August 8, 2023, Sheridan shipped books invoiced at $21,000,000 (cost $16,800.000). Prepare the journal entry to record this transaction, including the expected returns. (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) Date Account Titles and Explanation August 8, 2023 Accounts Receivable Debit 21000000 Credit MEND