journal entry options:

Accounts payable

Accounts receivable

Advertising Expense

Allowance for uncollectible accounts

bad debt expense

cash

common stock

cost of goods sold

delivery expense

gain on sale of investment

interest Recievable

interest revenue

inventory

inventory - estimated returns

land

miscellanous expense

notes payable

notes recievable

office supplies expense

petty cash

postage expense

refund Liability

rent expense

retained esrnings

salaries expense

salaries payable

sales return

sales revenue

service revenue

supplies

supplies expense

utilities expense

answer both journal entry 1 and 2, Thanks!

During 2024, its first year of operations, Hollis Industries recorded sales of $11,100,000 and experienced returns of $800,000. Cost of goods sold totaled $6,660,000 ( 60% of sales). The company estimates that 9% of all sales will be returned. Prepare the year-end adjusting journal entries to account for anticipated sales returns under the assumption that all sales are made for cash (no accounts receivable are outstanding). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2 Tvote: Encer dedics perore creais: Record estimated return of inventory. Note: Enter debits before credits