False Value Hardware offers an unlimited, no questions asked right of return on all products. False Value Hardware began 2018 with a credit balance of $22,000 in the allowance for sales returns account. Sales and cash collections from customers during the year were $650,000 and $610,000, respectively. False Value estimates that 6% of all sales will be returned. During 2018, customers returned merchandise for credit of $38,000 to their accounts. What is the balance in the allowance for sales returns account at the end of 2018? $11,000 $43,000 $23,000 $39,000