Sam Edwards owns a business called Sam's Stuff. A physical count determined his ending inventory as of December 31, 20- was $70,000. Based on past experience, Sam estimates that $4,500 of sales from this year will be returned next year. The cost of the merchandise expected to be returned is $2,800. Using the partial Trial Balance provided below, set up T accounts for Merchandise Inventory, Estimated Returns Inventory, Customer Refunds Payable, Sales Returns and Allowances, and Income Summary and prepare the year-end adjustments for Merchandise Inventory and related accounts. TRIAL BALANCE (PARTIAL) DEBIT CREDIT Merchandise Inventory Estimated Returns Inventory Customer Refunds Payable Sales Returns and Allowances Income Summary 59,000.00 2,400.00 3,800.00 20,000.00 For grading purposes use the labels shown and enter transactions in alphabetical order. TB Trial balance (beginning balance) ATB Adjusted trial balance (ending balance) (a) Remove the beginning balance in merchandise inventory. (b) Add the new balance per the physical count. (c) Adjust the customerefunds balance to the new estimate of next year returns (use one adjusting entry). (d) Remove the beginnning balance in estimated returns inventory. (e) Add the new balance per the estimate of merchandise expected to be returned. Assets Merchandise Inventory