Uranus Limited ('Uranus') sells tablet computers to various tertiary institutes with a return policy in a given period. The following are selected transactions and events of Uranus during the year ended 31 March 2022. On 16 December 2022, Uranus signed a contract and sold 2,350 tablet computers for $3,000 each on account to Lion Rock University ("Lionrock'). Uranus allowed Lionrock to return any unopened tablets within 6 months of purchase. The cost of each tablet computer was $1,600. Uranus estimated that: i 80 tablet computers would be returned. ii The cost of recovering the products to resale would be immaterial. iii The returned tablets were expected to be resold at a profit. On 24 February 2023, Lionrock returned 48 tablet computers. On 31 March 2023, Uranus prepared financial statements for month end reporting and determined that it was likely that only 32 more tablets would be returned. Hence, Uranus was still under the assumption that the most likely outcome was 80 tablet computers in total would be returned at the end. Required: a Briefly explain how to apply the five-step process in the revenue recognition for Uranus under HKFRS 15 Revenue from Contracts with Customers. (10 marks) b Explain the accounting treatment (with journal entries) for the sale of the tablets and the related cost of goods sold on 16 December 2021 and the return of the tablets on 24 February 2023. (10 marks) e On 31 March 2023, if Uranus believed the original estimate return from the order of Lionrock is still correct, explain how to account for expected returns at 31 March 2023 with appropriate accounting treatment. (3 marks) d Prepare the journal entries if the following situations happened independently on 31 May 2023: i 52 more tablets were returned. ii 32 more tablets were returned. iii No more tablets were returned. (6 marks) (3 marks) (3 marks) e Describe the treatment of revenue of Uranus if the tablet computer is sold in a bundle with a one-year warranty, which the warranty can be separately purchased at $300 for a year. No accounting entries is to be prepared. (5 marks)