During 2018, lts first year of operations, Hollis Industries recorded sales of $11,300,000 and experlenced returns of $900,000. Cost of goods sold totaled $7,910,000(70% of sales). The company estimates that 9% of all sales will be returned. Prepare the year-end adjusting Journal entries to account for anticipated sales returns, assuming that all sales are made on credit and all accounts recelvable are outstanding. (If no entry Is requlred for a transaction/event, select "No Journal entry requlred" In the first account field.) nts View transaction list eBook Journal entry worksheet Print Record the anticipated sales returns. eferences Note: Enter debits before credits. Event General Journal DebitCredit Record entry Clear entry View general jourmal Journal entry worksheet Record estimated return of inventory Note: Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general jourmal