Monola uses a perpetual inventory system and has taken a physical inventory on December 31, 19X4. The inventory account has been adjusted to the actual figure per the count. In testing purchases cutoff you find the situation depicted below. Prepare any necessary adjusting entries. (Monola consistently records purchases upon receipt regardless of f.o.b. terms.)

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Purchase order No. Amount Date entered in purchase journal Date received 14777 310 12/31/X4 1/3/X5 13997 475 12/31/X4 12/19/X4 15001 1,100 12/31/X4 12/31/X4 14886 4,300 1/2/X5 12/31/X4 3793 6,200 1/2/X5 11/10/X4 11001 1,400 1/2/X5 1/3/X5