As of 1/1/17, Final Countdown Corp. has an "Allowance to reduce inventory to NRV" with a credit balance of 15,000 . At the end of 2017 , Final Countdown determines that its inventory has a historical cost of $190,000 and a net realizable value of $182,000 Which of the following must be recorded as part of the adjusting entry for inventory on 12/31/17? Mark all that apply. Credit Allowance - reduce inventory to NRV for 7,000 Debit Allowance - reduce inventory to NRV for 7,000 Debit Allowance - reduce inventory to NRV for 8,000 Debit Allowance - reduce inventory to NRV for 8,000 Debit Loss - decline of inventory for 7,000 Debit Loss - decline of inventory for 8,000 Credit Gain - reversal of decline of inventory for 8,000 Credit Gain - reversal of decline of inventory for 7,000 Attempt \#1: 2/2 (Score: 0/2)