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Blossom Publishing Co. publishes college and university textbooks that are sold to bookstores on the following terms. Each titie has a fixed wholesale price, terms fo.b. shipping point, and payment is due 60 days after shipment. The retailer may retum 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% and the average collection period is 72 days. The company follows IFRS. (c) On August 8, 2023, Blossom shipped books invoiced at $37,000,000( cost $29,600,000). Prepare the joumal entry to record this transaction, including the expected returns. (Credit account titles are automatically indented when the amount is entered: Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the dmounts. List On August 8, 2023 , Biossom shipped bocks imviced at $37,000,000 fcost $29,600,000. Prepare the joutnal entry to record this transaction, including the expected returns, Blossom follows ASPE. (Credit occount titles are atomatically indented when the amount is entered. Do not indent manualfy. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List alf debit entries before credit entries.)

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