2 In the current year, Borden Corporation had sales of $2,040,000 and cost of goods sold of $1220,000. Borden expects returns in the following year to equal 7% of sales. The unadjusted balance in Inventory Returns Estimated is a debit of $10,000, and the unadjusted balance in Sales Refund Payable is a credit of $14,000. The adjusting entry or entries to record the expected sales returns is (are): Multiple Choice Accounts Receivable Sales Sales returns and allowances Sales Cost of Goods sold Inventory Returns Estimated Sales Sales Refund Payable Accounts receivable 2,040,000 142, 800 11,897,200 128, BOG Sales Refund Payable Accounts receivable 128,800 128, BOC 128. Bool Sales Returns and Allowances Sales Refund Payable Inventory Returns Estimated Cost of goods sold 75,000 75, 400