False Value Hardware began 2021 with a credit balance of $31,900 in the refund liability account. Sales and cash collections from customers during the year were $600,000 and $560,000, respectively. False Value estimates that 7% of all sales will be returned. During 2021, customers returned merchandise for credit of $21,000 to their accounts. False Value Hardware's 2021 income statement would report net sales of Multiple Choice O $558,000 $579,000. O $589,100. $568,100