At year end, Gold Sky Inc. started the process to review its $$3,500,000$ of accounts receivable to estimate what amount outstanding could potentially be returned by the customer. There was a recent memo from the production manager that stated a process error was found in one of the assembly lines, potentially causing a defect in the output. As a result, a significant amount of product is expected to be returned. Assuming a $15\%$ estimated return rate, what would be the entry to journalize this under IFRS? A A$)$ Sales Returns and Allowances Allowance for Sales Returns and Allowances B$)$ Loss on Impairment Allowance for Expected Credit Losses C$)$ Sales Revenue Refund Liability D$)$ Allowance for Expected Credit Losses Accounts Receivable $525,000525,000525,000525,000525,000525,000525,000525,000$