Question 17 5 p During 2021, its first year of operations, Arlington Industries recorded sales of $21,000,000 and experienced returns of $1,400,000. Returns are accounted for as they occur, with additional estimated returns accrued at the end of the period. Cost of goods sold totaled $12,600,000,000 (60% of sales). The company estimates that 8% of all sales will be retumed. The year-end adjusting journal entry to account for anticipated sales returns would include: Debit to cost of sales of $168,000. Debit to sales returns of $1,680.000, Credit to refund liability of $280.000 Credit to sales returns of $280,000