Answer:  Please see answers in explanation column
Explanation:
Accounts title and explanation            Debit          Credit
Sales returns and allowances       $121,200      
 Sales refund payable                                               $121,200
Calculation
Expected Sales returns and allowances = sales x expected percentage 
= 2,020,000 x 6%=   $121,200
Accounts title and explanation            Debit              Credit
Inventory returns estimated               $72,600
Cost of goods sold                                                     $72,600
Calculation
expected Cost of goods sold =  Cost of goods soldx expected percentage
= 1,210,000 x6%=$72,600