Use the information for Amodt Ltd. in BE6.13 and assume instead that the company follows ASPE. Follow the same instructions as in parts (a) and (b) in BE6.13.

BE6.13

On July 10, 2020, Amodt Ltd. sold GPS systems to retailers on account for a selling price of $700,000 (cost $560,000). Amodt grants the right to return systems that do not sell in three months following delivery. Past experience indicates that the normal return rate is 15%. By October 11, 2020, retailers returned systems to Amodt and were granted credits of $78,000. Prepare Amodt’s journal entries to record

(a) The sale on July 10, 2020, including any expected returns,

(b) The $78,000 of actual returns on October 10, 2020. The company follows IFRS.