Allen Company is a wholesale distributor of automotive replacement parts. Initial amounts taken from Alen's accounting records are as follows: Inventory at December 31, 2016 (based on physical count of goods in Allen's warehouse on December 31, 2016) Sales in 2016 Accounts payable at December 31, 2016: $1,250,000 9,000,000 Vendor TermsAmount Baker Company 2% 10 days, net 30 S 265,000 Charlie Company Net 30 Dolly Company Net 30 Eager Company Net 30 Full Company Net 30 Greg Company Net 30 210,000 300,000 225,000 $1,000,000 Additional information is as follows 1. Parts held on consignment from Chartlie to Allen, the consignee, amounting to $155,000 were included in the physical count of goods in Allen's warehouse onDecember 31, 2016, and in accounts payable at Decembe 31, 2016. 2 $22,000 of parts, which were purchased from Full and paid for in December 2016, were soid in the last week of 2016 and appropriately recorded as sales of $28,000. The parts were included in the physical count of goods in Allen's warehouse on December 31, 2016, because the parts were on the loading dock waiting to be picked up by customers. 3. Parts in transit to customers on December 31, 2016, shipped FOB shipping point on December 28, 2016, amounted to $34,000. The customers received the parts on January 7, 2017. Sales of 540,000 to the custome for the parts were recorded by Allen on January 3, 2017 4. Retailers were holding $210,000 at cost ($250,000 at retail) of goods on consignment from Allen, the consignor, et their stores on December 31, 2016 5. Goods were in transit from Greg to Allen on December 31, 2016. The cost of the goods was $25,000, and they were shipped FOB shipping point on December 29, 2016 6. A quarterly freight bill in the amount of S 2,000 speoncally relating to merchandise purchases in Decenber 2016 al of which was sen n ehe inventory at December 31,2016'-s eived en leury 4, 2017 The freight bill was not included in either the inventory or in accounts payable at December 31, 2016 7. All of the purchases from Baker occurred during the last 7 days c, the year. These tems have been recorded accounts payable and accounted for in the physical n entory at cost before discount. Aren's poky is to Required: Prepare a schedule of adjusbments to the intial amounts of inventory, accounts pryable, and sales. Show the effect, any, of each of the transactions separabely and indicate if the transactions would have no effect on the amount (in this case enter a zero). Use a minus sign to indicate decreases for showing the effect of ajustmenes, required initial amounts Inorease (decrease) 14,000 | otal adustments 410X Patialy corect Previous