3. Accountant wants you to evaluate the following major transactions and provide adjusting journal entries, if necessary. For each item, explain why you are (or are not) adjusting HEMI's current account balances and provide supporting calculations for adjustments: a. On December 21, HEMI ordered 25 transmissions for a total cost of $15,000,000 which were shipped on December 27 with the terms FOB Destination. This inventory was not received at year-end and has not been recorded in HEMI's accounting records. b. There is a product in inventory that cost HEMI $11,000,000 which management has indicated will be sold close to its cost. Management is estimating selling price to be $12,000,000 and HEMI will have to pay the transportation costs of approximately $2,000,000 on behalf of its customer(s)