In the current year, Laker Corporation had sales of $2,160,000 and cost of goods sold of $1,280,000. Laker expects returns in the following year to equal 7% of sales and 7% of cost of goods sold. The unadjusted balance in Inventory Returns Estimated is a debit of $22,000, and the unadjusted balance in Sales Refund Payable is a credit of $26,000. The adjusting entry or entries to record the expected sales returns is (are) Multiple Choice Account Title Accounts Receivable Debit 2,160,000 Credit Sales 2,160,000 Account Title Sales Refund Payable Debit 125,200 Credit Accounts Receivable 125,200 Account Title Debit Credit Sales returns and allowances 125,200 Sales 125,200 Cost of Goods Sold 67,600 Inventory Returns Estimated 67,600