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5 Styles Netherland Corporation has the following unadjusted balances: Accounts Receivable, $81,000 (debit) and Allowance for Sales Discounts $310 credit). Of the receivables, S51,000 of

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5 Styles Netherland Corporation has the following unadjusted balances: Accounts Receivable, $81,000 (debit) and Allowance for Sales Discounts $310 credit). Of the receivables, S51,000 of them are within the 3% discount period, and Netherland expects buyers to take $1,530 in future-period discounts ($51,000 x 3%) arising from this period's sales. The adjusting entry or entries to estimate sales discounts is (are): Sales Discounts 1,220 Allowance for Sales Discounts 1,220 Sales Discounts Allowance for Sales Discounts 1,530 17530 . Sales Discounts Sales Coat of Goods Sold Inventory Returns Estimated 51,000 51,000 1,530 1530 Adcounts Receivable Salon 811000 81000

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