5,60 Help Save & Exit In the current year, Borden Corporation had sales of $2,140,000 and cost of goods sold of $1,270,000. Borden expects returns in the following year to equal 6% of sales. The unadjusted balance in ihventory Returns Estimated is a debit of $20,000, and the unadjusted balance in Sales Refund Payable is credit of $24.000. The adjusting entry or entries to record the expected sales returns is (are) Multiple Choice Sales Sales Reford Payable Accounts Receivable 2,140,000 128,400 2,011,600 Sales Returns and Allowances Sales Refund Payable Inventory Returns Estimated Coat of goods sold 104,400 104,400 56,200 56.200 Bales Rains and allowances Sales Cost of Goods Sold Inventory Returns Estimated 104,400 104.400 56.200 Accounts Receivable 2.140,000 2.140.000 ED e $ 4 5 6 7 00 9 0 W E R T Y U O S D F G H J . L c V B