Section 2 - Problem 3 (5 marks): Expecting substantial growth in sales of the Plywood Pelican, Mike's Sheds Inc. - Aviation Division invested heavily in wooden propellers. Luckily for Mike, wooden propellers caught on in Belgium as a lawn ornament. To spur sales, Mike had to offer customers an unconditional right to return the propellers within 3 months of purchase if they are not fully satisfied. On September 1, 2021 Mike sold 50 propellers at $500 each, terms 1/15, n45. Each propeller cost Mike $300. Based on prior experience, Mike expects 20% to be returned. Prepare the journal entry to record the sale. Mike's Sheds Inc. follows IFRS