On July 10, 2023, 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, 2023, following the collection on account, 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, 2023, including any expected returns 

(b) The $78,000 of actual returns on October 10, 2023. The company follows IFRS.