On December 31, Jolly Photography Supplies evimated that 50.000 merchandise sold will be returned with a cost of $3,600. Journaliste adjusting entries needed to account for the estimated returns (Assume the companyes a pepe inwestory syem Record debits in the credits Select the explanation on the lasting of the journal entry table) (3) Begin by preparing the viry for the imated refunds. Do not prepare the entry to record the imated return of merchandise with his entry we will do that in the following the Date Accounts and explanation De Credit Dec 31 (2) Prepare the entry for the estimated return of merchandise Date Accounts and explanation Dec 31 Deb Credit On December 31, Jolly Photography Supplies evimated that 50.000 merchandise sold will be returned with a cost of $3,600. Journaliste adjusting entries needed to account for the estimated returns (Assume the companyes a pepe inwestory syem Record debits in the credits Select the explanation on the lasting of the journal entry table) (3) Begin by preparing the viry for the imated refunds. Do not prepare the entry to record the imated return of merchandise with his entry we will do that in the following the Date Accounts and explanation De Credit Dec 31 (2) Prepare the entry for the estimated return of merchandise Date Accounts and explanation Dec 31 Deb Credit