In the current year, Laker Corporation had sales of $2,000,000 and cost of goods sold of $1,200,000. Laker expects returns in the following year to equal 8% of sales and 8% of cost of goods sold. The unadjusted balance in Inventory Returns Estimated is a debit of $6,000, and the unadjusted balance in Sales Refund Payable is a credit of $10,000. The adjusting entry or entries to record the expected sales returns is (are): Multiple Choice \begin{tabular}{|c|c|r|} \hline \multicolumn{1}{|c|}{ Account Title } & \multicolumn{1}{|c|}{ Debit } & \multicolumn{1}{c|}{ Credit } \\ \hline Sales & 2,000,000 & \\ \hline Sales Refund Payable & & 160,000 \\ \hline Accounts Receivable & & 1,840,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{1}{|c|}{ Account Title } & Debit & Credit \\ \hline Accounts Receivable & 2,000,000 & \\ \hline Sales & & 2,000,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Sales Returns and Allowances & 150,000 & \\ \hline Sales Refund Payable & & 150,000 \\ \hline Inventory Returns Estimated & 90,000 & \\ \hline Cost of goods sold & & 90,000 \\ \hline \end{tabular}