$($Sales with Returns$)$ Uddin Publishing Co$.$ publishes college textbooks that are sold to bookstores on the following terms. Each title has a fixed wholesale price, terms f$.$o$.$b$.$ shipping point, and payment is due $60$ days after shipment. The retailer may return a maximum of $30\%$ of an order at the retailer$$s expense. Sales are made only to retailers who have good credit ratings. Past experience indicates that the normal return rate is $12\%.$ The costs of recovery are expected to be immaterial, and the textbooks are expected to be resold at a profit. Instructions Identify the revenue recognition criteria that Uddin could employ concerning textbook sales. Briefly discuss the reasoning for your answers in $($a$)$ above. On July $1,2025,$ Uddin shipped books invoiced at $$15,000,000($cost $$12,000,000).$ Prepare the journal entry to record this transaction. On October $3,2025,$ $$1\mathrm{.}5$ million of the invoiced July sales were returned according to the return policy, and the remaining $$13\mathrm{.}5$ million was paid. Prepare the journal entries for the return and payment. Assume Uddin prepares financial statements on October $31,2025,$ the close of the fiscal year. No other returns are anticipated. Indicate the amounts reported on the income statement and balance statement related to the above transactions.

Please help me with the balance statement as of $10/31/2025.$