Please complete using the accounts from the list Show all images Show all images Show all images done loading Cullumber Company sells goods to Bonita

Please complete using the accounts from the list

Cullumber Company sells goods to Bonita Company during 2023 It offers Bonita the follcnving rebates based on total sales to Bonita. If total sales to Bonita are 10,200 units, it WII grant a rebate of If it sells up to 21.600 units, it will grant a rebate of It if sells up to 30,200 units, it WII grant a rebate of 6%. In the first quarter of the year, Cullumber sells 11,200 units to Bonita, on account, at a sales price of $112,000. Based on past experience, Cullumber has sold over 40,000 units to Bonita, and these sales normally take place in the third quarter of the year. Your answer is partially correct. Prepare the journal entries including any rebates that Cullumber should make to record the sale, on account, of the 11,200 units in the Krst quarter of the year assuming Cullumber follows IFRS. Ignore any cost of goods sold entry. (Credit occamt titles are automatically indented when the amount is entered. Do not indent rnanually. If no entry is required, select No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Accounts Receivable Sales Revenue (To record sale on account) Seles Discounts Contract Asset.'LiabiI ity (To record rebate) Debit 112000 Credit 112000