Five dollar stores (fds) sells merchandise for cash. it began 2021 with a refund liability of $0, made sales of $1,000,000 during 2021 which cost fds $600,000 (or 60%), estimates that 1% of all sales will be returned, and experiences $8,000 of returns during 2021. when accruing its estimate of remaining returns at the end of 2021, fds would debit sales returns and credit the refund liability for: