I just need the work to show that these numbers are correct please! Thank you!

ed Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $350,000. During 2021. Halifax sold merchandise on account for $12,000,000. Halifax's merchandise costs is 65% of merchandise selling price. Also during the year, customers returned $474,000 in sales for credit, with $262.000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 4% of sales, are recorded as an adjusting entry at the end of the year Required: 1. Prepare entries to (a) record actual returns in 2021 of merchandise that was sold prior to 2021 (b) record actual returns in 2021 of merchandise that was sold during 2021, and (c) adjust the refund liability to its appropriate balance at year end. 2. What is the amount of the year-end refund liability after the adjusting entry is recorded? . in the tabs below. 262,000 262,000 2021 Refund liability Accounts receivable 170,300 170,300 2 2021 Inventory Inventory--estimated returns 212,000 212.000 3 2021 Sales returns Accounts receivable 137,800 137,800 4 2021 Inventory Cost of goods sold 180,000 180.000 5 2021 Sales returns Refund liability 117,000 117,000 6 2021 Inventory--estimated returns Cost of goods sold Required 2 >