View Policies Current Attempt in Progress Carla Vista Company sells 300 units of its products for $25 each to Vaughn Inc. for cash. Carla Vista allows Vaughn to return any unused product within 30 days and receive a full refund. The cost of each product is $19. To determine the transaction price, Carla Vista decides that the approach that is most predictive of the amount of consideration to which it will be entitled is the probability- weighted amount. Using the probability-weighted amount, Carla Vista estimates that (1) 12 products will be returned, and (2) the returned products are expected to be resold at a profit. Prepare the journal entries for Carla Vista at the time of the sale to Vaughn including any expected returns. The company follows IFRS. (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 "0" for the amounts. List all debit entries before credit entries.) Account Titles and Explanation (To record cash sale) Debit IN ON Credit ||||| C

Current Attempt in Progress Carla Vista Company sells 300 units of its products for $25 each to Vacigtno inc for cash. Carla Vista allows Vaughn to reture amy unused product within 30 days and receive a full refund, The cost of each product is $19. To determine the transaction price. Carla Vista decides that the approach that is most predictive of the amount of consideration to which it will be entitled is the probability returned products are expected to be resold at a profit. Prepare the journat entrles for Carta Vista at the time of the sale to Vaughn including any expected returns. The compary follows iFRS. iCredit 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. thit all debit entries before credit eatries]