18) In the current year, Borden Corporation had sales of $2,090,000 and cost of goods sold of $1,245,000. Borden expects returns in the following year to equal 8% of sales and 8% of cost of goods sold. The unadjusted balance in Inventory Returns Estimated is a debit of $15,000, and the unadjusted balance in Sales Refund Payable is a credit of $19,000. The adjusting entry or entries to record the expected sales returns is (are): Account Title Debit Credit Accounts Receivable 2,090,000 Sales Debit 2,090,000 Account Title Credit Sales returns and allowances 148,200 Sales 148,200 Cost of Goods Sold 84,600 Inventory Returns Estimated 84,600 Account Title Debit Credit Sales 2,090,000 Sales Refund Rauah) Debit Credit Sales returns and allowances 148,200 Sales 148,200 Cost of Goods Sold 84,600 Inventory Returns Estimated 84,600 Account Title Debit Credit Sales 2,090,000 Sales Refund Payable 167,200 Accounts Receivable Debit 1,922,800 Account Title Credit Sales Refund Payable 148,200 Accounts Receivable Debit 148,200 Account Title Credit Sales Returns and Allowances 148,200 Sales Refund Payable 148,200 Inventory Returns Estimated 84,600 Cost of goods sold 84,600