Under the perpetual inventory system, the journal entries to record sales returns (the original sale was on account) would be: Select one: O Dr. Accounts Receivable Cr. Sales Dr. Merchandise Inventory Cr. Cost of Goods Sold O Dr. Accounts Payable Cr. Merchandise Inventory Dr. Merchandise Inventory Cr. Cost of Goods Sold O Dr. Sales Returns and Allowances Cr. Accounts Receivable Dr. Merchandise Inventory Cr. Cost of Goods Sold O Dr. Cost of Goods Sold Cr. Merchandise Inventory Dr. Merchandise Inventory Cr. Accounts Payable O Dr. Sales Returns and Allowances Cr. Accounts Payable Dr. Merchandise Inventory