A)Suppose that on March 15,2018 both company A and company B sold inventory with a cost of $40,000. The updated balance of merchandise inventory as at March 1 for both companies was $90,000. Company A uses the perpetual inventory system. Company B uses the periodic inventory system and performs an inventory count at the end of each month. What is the value of merchandise inventory on record as at March 15 for each of Company A and Company B?

B) The following is Company A's adjusted trial balance in account order for the year ended September 30,2018. Prepare the journal entries to close the appropriate accounts using the income summary

Account Title	DR	CR
Cash	3800
A/R	2800
Prepaid Insurance	4500
Prepaid Rent	8100
Equipment	43800
Accumulated DEpreciation-Equipment		1000
Accounts Payable		2330
Unearned Revenue		2000
Wages Payable		2820
Kiefer,Capital		48800
Sales Revenue		79000
Sales Discount	1750
Sales return and allowances	430
Cost of goods sold	36780
Rent Expense	9300
Utilities Expense	8240
Wages Expense	15800
Depreciation Expense	650
Total	135950	135950

c) Prepare journal entries to close appropriate accounts directly to the capital account