Sleepy Time Ltd. manufactures and sells mattresses to retailers across Canada. In 2022, Sleepy Time signed a two-year contract with Snooze Ltd. to supply it with 40,000 mattresses at a price of $100 per unit. Sleepy Time's cost to manufacture a mattress is $25. Sleepy Time provides Snooze Ltd. with 30-day credit terms from the date of delivery. The following schedule summaries the production, delivery, and payments in relation to the contract: Required: a) Determine how much revenue Sleepy Time would be able to recognize in 2022 and 2023. Use the five-step model for revenue recognition and in this regard, a separate Word document (table) has been provided and is available in DropBox to download. Complete the table and remember to upload the completed table to DropBox when submitting your exam response. b) Prepare the required summary journal entries for the contract based on your analysis in requirement (a). c) How would your answer to requirement (a), change if Sleepy Time allowed Snooze Ltd, to return any mattresses that were returned by customers who found them uncomfortable? Based on experience, Sleepy Time's management estimated a return rate of one (1) percent and that the mattresses being returned would be donated to local shelters