choose one correct multiple choice answer

In its first year of business, Borden Corporation had sales of $2,120,000 and cost of goods sold of $1.260,000. Borden expects returns in the following year to equal 5% of sales. The adjusting entry or entries to record the expected sales returns is (are): Multiple Choice Accounts Receivable Sales 2,120,000 2,120,000 Sales returns and allowances Sales Cost of Goods Sold Inventory Returns Estimated 106,000 106,000 63,000 63,000 Sales Sales Refund Payable Accounts receivable 2,120,000 106,000 2,014,000 Accounts Receivable Sales 2,120,000 2,120,000 Sales returns and allowances Sales Cost of Goods Sold Inventory Returns Estimated 106,000 106,000 63,000 63,000 Sales Sales Refund Payable Accounts receivable 2,120,000 106,000 2,014,000 Sales Refund Payable Accounts receivable 106,000 106,000 Sales Returns and Allowances Sales Refund Payable Inventory Returns Estimated Cost of goods sold 106,000 106,000 63,000 63,000