At Lidia Corporation, the loss method is used and they adjust an allowance account at year-end to document net realizable value adjustments directly to its inventory. Lidia Corporation began business on January 1st. 2020. Below, the end-of-year details for its only inventory items are listed.

Fiscal year Cost basis Net Realizable Value

2020 $220,000 $205,000

2021 $315,000 $310,000

A: Fill in the chart for the end-of-year adjusting entry for 2020:

Account Tittle	Debit	Credit

B: Fill in the chart fir the end-of-year entry for 2021.

Account Tittle	Debit	Credit