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Sinclair Industries manufactures and sells household furniture. Sinclair has sales of $225,000 in the month of December on inventory that cost $160,000 to produce. Based

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Sinclair Industries manufactures and sells household furniture. Sinclair has sales of $225,000 in the month of December on inventory that cost $160,000 to produce. Based on historical precedent. Sinclair expects 8% of total sales to returned. In the month of December, Sinclair received customer returns of $6,000. Journalize the sales, the sales returns, and the allowance for returns at year-end

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