17f

The controlfer of Sundand Corp. has prewided you with the followires intormation retatire fo its irrap ritory Sundand uses the perioctic inventory system, and records its imwentory at cost. An allowance acegont is adjusted at the ena of each year to adjust the value of the inventory to the lower of cost and NRV. Prepare the foumal entries that Sunland would have prepared for its 2022 and 2023 year ends, assumire that 2022 was its first year of operations. (Credit occount tibles are automaticaliy indented when the amount is entered, Do not indent manuolly If no entry is required, seloet "No Entry" for the account tithes and enter O for the armounts. Record joumal entries in the order presented in the problem. List all debit entries before credit entries: Prepare the journal entries that Suntand would have prepared for its 2022 and 2023 year ends, assurving that 2022 was its firstyear of operations. (Credit account titles are outomaticolly indented when the amount is entered. Do not indent moneialiy. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entrien before credil entries)