Beethoven Music Company started business in March 2021. Sales for its first year were $400,000. Beethoven priced its merchandise to yield a 45% gross profit based on sales dollars. Industry statistics suggest that 10% of the merchandise sold to customers will be returned. Beethoven estimated its sales returns based on the industry average. During the year, customers returned $30,000 in sales. Beethoven uses a perpetual inventory system Required: 1. Prepare the journal entry to record the sale. 2. Prepare the journal entry to record sales returns. 3. Prepare the journal entry to record the year-end adjusting entry for estimated sales returns. Assume that cash has not yet been collected for merchandise that could yet be returned. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) View transaction that Journal entry worksheet