A physical inventory was taken of piers and lifts. This was done to confirm the perpetual inventory amount. You uncovered the following information: (a) A lift was listed in the inventory records, but could not be found. It was determined that it had been sold during the current year and had not been included in the cost of goods sold. The cost of the lift was $3,000. You need to remove this lift from inventory and charge it to the cost goods sold. (b) A lift was purchased by Ozark and was shipped by the manufacturer to Ozark FOB Shipping Point (ownership transfers to buyer at sellers loading dock)). It had an invoice of $5,300. This lift has to be added to inventory and accounts payable. (c) It was also determined that some lifts in the inventory were obsolete and they were written down by $2,700. This loss will appear as a separate other expense on the income statement.

What are the Adjusting Entries?