During 2016, Gleeson Technologies sold merchandise for a total of $800,000. The cost of merchandise to Gleeson was $560,000. Gleeson allows a 60 day return period for the merchandise it sells. At year-end, Gleeson estimates there are $90,000 of sales (with a cost of $63,000 to Gleeson) that are still within the 60-day return period. From past experience, Gleeson believes that 5% of this merchandise will be returned. Assume Gleeson's fiscal year is December 31. Gleeson's adjusting journal entries will include: Select one: 0 A. No adjusting journal entry is required. Return will be recognized when it occurs. B. A credit to Sales Returns and Allowances for $3,150 0 C. A credit to Cost of Goods Sold for $3,150 D. A debit to Sales Refunds Payable for $4,500. E. A debit to Estimated Inventory Return for $4,500