1. For Big 5 Sporting Goods: please prepare entries to (a) record actual returns in the current year of merchandise that was sold prior to the current year; (b) record actual returns in the current year of merchandise that was sold during the current year; and (c) adjust the refund liability to its appropriate balance at vear end. 2. What is the amount of the year-end refund liability after the adjusting entry is recorded? Prepare entries to (a) record actual returns in the current year of merchandise that was sold prior to the returns in the current year of merchandise that was sold during the current year; and (c) adjust the rebalance at year end. Record the actual sales returns of merchandise sold prior to current year. Record the cost of merchandise returned for goods sold prior to current year. Record the actual sales returns of merchandise sold during the current year. Record the cost of merchandise returned for goods sold during the current year. [ Record the year-end adjusting entry for estimated returns. 1. For Big 5 Sporting Goods: please prepare entries to (a) record actual returns in the current year of merchandise that was sold prior to the current year; (b) record actual returns in the current year of merchandise that was sold during the current year; and (c) adjust the refund liability to its appropriate balance at vear end. 2. What is the amount of the year-end refund liability after the adjusting entry is recorded? Prepare entries to (a) record actual returns in the current year of merchandise that was sold prior to the returns in the current year of merchandise that was sold during the current year; and (c) adjust the rebalance at year end. Record the actual sales returns of merchandise sold prior to current year. Record the cost of merchandise returned for goods sold prior to current year. Record the actual sales returns of merchandise sold during the current year. Record the cost of merchandise returned for goods sold during the current year. [ Record the year-end adjusting entry for estimated returns