ProBuilder reports merchandise sales of $66,000 and cost of merchandise sales of $13,200 in its first year operations ending June 30. It makes fiscal-year-end adjusting entries for estimated future returns and allowances equal to 4% of sales, or $2,640, and 4% of cost of sales, or $528. a. & b. Prepare the June 30 fiscal-year-end adjusting journal entry for future returns and allowances related to sales and cost of sales. No Date General Journal Debit Credit 1 June 30 Sales discounts 59 Allowance for sales discounts 59