Pharoah Company is presently testing a number of new agricultural seeds that it has recently harvested. To stimulate interest, it has decided to grant to five of its largest customers the unconditional right of return to these products if not fully satisfied. The right of return extends for 4 months. Pharoah sells these seeds on account for $1,570,000 (cost $785,000) on January 2, 2025. Customers are required to pay the full amount due by April 15, 2025. Your answer is partially correct. Prepare a journal entry to record the adjusting entry for March 31st, 2025 when the financial statements are prepared. Pharoah believes it's original estimate of returns is correct. (Round answers to 0 decimal places, e.g. 5,125. List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation March 31, 2025 Sales Returns and Allowances Accounts Receivable (To record sales returns) Debit 41944 March 31, 2025 Estimated Inventory Returns 20279 Cost of Goods Sold (To record cost of goods returned) Credit. 41944 20279