What would the correct account name be for No. 1?

During 2018, its first year of operations, Hollis Industries recorded sales of $11,300,000 and experienced returns of $790,000. Cost of goods sold totaled $7910,000 (70% of sales). The company estimates that 8% of all sales will be returned Prepare the year-end adjusting journal entries to account for anticipated sales returns under the assumption that all sales are made for cash (no accounts receivable are outstanding). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete but not entirely correct. No Event General Journal Debit Credit Sales returns 114,000 Allowance for sales returns 114,000 2 Inventory-estimated returns 79,800 Cost of goods sold 79,800