Alt Tile Company uses a perpetual inventory system. a$.$ The inventory account has a balance of $$133,150,$ while the physical inventory indicates that $$130,900$ of merchandise is on hand. Assume any shrinkage is a normal amount. b$.$ Sales returns of $$11,000$ and merchandise returns of $$8,000$ are estimated for the current year$$s sales. Required: Journalize the December $31$ adjusting entries based on the above information. Refer to the Chart of Accounts for exact wording of account titles.