1. A debit to 'sales' in the mount of?
2. A credit to 'cost of Good sold' in the amount of?
3. A credit to 'inventory' in the amount of?

Question 23 (10 points) Pit Corporation owns 90% of Stop Company's outstanding common stock. On 07/01/20, Pit sold inventory to Stop in exchange for $487,000 cash. Pit's cost of the inventory (purchased in 2020) was $365,250. On 12/19/20, Stop sold 30% of the inventory to 3rd parties at a cash price of $194,800. The other 70% of the inventory remains on hand at 12/31/20. REQUIRED: ANSWER THE FOLLOWING QUESTIONS RELATED TO THE REQUIRED YEAR-END CONSOLIDATION ENTRY: NOTE: BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000