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Current Attempt in Progress Crane Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales returns period

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Current Attempt in Progress Crane Choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. The sales returns period extends 60 days. On February 10,2024 , a customer purchases $2800 of products (cost $1400 ). Assuming that based on prior experience, estimated returns are 30%. The journal entry to record the actual return of $130 of merchandise includes a credit to Returned Inventory for $65. debit to Estimated Inventory Returns for $65. debit to Returned Inventory for $65. credit to Allowance for Sales Returns for $130

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