Mack Industries uses the periodic inventory system. What is the entry to record $250 of returned merchandise, with a cost of $100, from customer Jake Sanders? Debit Sales Returns & Allowances for $250; credit Accounts Receivable for $250; debit Merchandise Inventory for $100; credit Cost of Goods Sold for $100. O Debit Sales Returns & Allowances for $250; credit Accounts Receivable for $250; debit Purchases for $100; credit Purchase Returns & Allowances for $100. Debit Sales Returns & Allowances for $250; credit Cash for $100; credit Sales for $150. Debit Sales Returns & Allowances for $250; credit Accounts Receivable for $250