In its first year of business, Borden Corporation had sales of $2,130,000 and cost of goods sold of $1,265,000. Borden expects returns in the following year to equal 7% of sales. The adjusting entry or entries to record the expected sales returns is (are): Multiple Choice 149, 100 Sales Returns and Allowances Sales Refund Payable Inventory Returns Estimated Cost of goods sold 149, 100 88,550 88,550 2,130.000 Accounts Receivable Sales 2,130,000 149,100 Sales Refund Payable Accounts receivable 149, 100 2,130,000 Sales Sales Refund Payable 149.1001