2 - Presented below is information related to Sandhill Co, owned by D. Flamont, for the month of January 2021. $21.900 Insurance expense $13.000 Ending inventory per perpetual records Ending inventory actually on hand Cost of goods sold 17,300 Rent expense 18.900 55.900 222.000 Salaries expense Freight out 6,200 Sales discounts 10.500 Sales returns and allowances 12.600 Sales 385.000 Prepare the necessary adjusting entry for inventory. (Credit account titles are automatically indented when the amount is enteret. Do notIndent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Jan. 31 To adjust ending inventory to actual at year end) Prepare the necessary dosing entries. D. Flamont did not withdrawany cash during the month of January (Ondit account titles are automatically indented when the amount is entered Do not indent manually. If no entry is required, select "No Entry for the accounties and enter for the amounts) Debit Credit Date Account Titles and Explanation Jan 31 (To close income statement account with credit balance) 31 18 cote income statement account with credit balance.) Jan. 31 To close income statement accounts with debit balances) Jan 31 Calone income Summary Textbook and Media