Under IFRS policy

BOBO Limited ships merchandise costing $288,000 on consignment to Great Value Stores on 1 March 2019. On 31 March 2019, Great Value Stores has sold 2/3 of the consigned merchandise for $320,000 cash. Great Value Stores notifies BOBO Limited of the sales on 31 March 2019. Great Value Stores retains 10% commission, and remits the cash to BOBO Limited on 15 April 2019. BOBO Limited has the year end date of 31 March. Required: Prepare the journal entries for BOBO Limited on 31 March 2019. (5 marks) Accounts: Cash, Commission expense, Cost of Sales, Consignment inventory, Receivable from Consignee