For the year ended December 31, 2019, Davidson Mart had sales of $200,000 and cost of goods sold of $150,000. Davidson estimates that approximately 4% of the merchandise sold will be returned. The adjusting journal entry on December 31, 2019, would include a O A. B. credit to Refunds Payable for $8,000 OB. D. debit to Sales Revenue for $2.000 OC. C. credit to Estimated Returns Inventory for $6,000 OD. A. debit to Cost of Goods Sold for $6,000 Assume Old Time Photo made Net Sales Revenue of $80,000 and Cost of Goods Sold totaled $58,000. What was Old Time Photo's gross profit percentage for this period? (Round your answer to the nearest whole percent.) O A. 2.9 times OB. 28% O C. 73% OD. 3% A company sold merchandise with a cost of $211 for $440 on account. The seller uses the perpetual inventory system. The entry to record the cost of merchandise sold would include O A. a debit to Sales Revenue and a credit to Cash for $440 OB. a debit to Cash and a credit to Sales Revenue for $440 O C. a debit to Merchandise Inventory for $211 and a credit to Cost of Goods Sold for $211 OD. a debit to Cost of Goods Sold and a credit to Merchandise Inventory for $211