Current Attempt in Progress: Vaughn Company, a manufacturer of small tools, provided the foliowing information from its accounting records for the year ended December 31,2025. Imentory at December 31,2025 (based on physical count of goods in Vaghn's plant, at cost, on December 31.2025) $1,523,190 Accounts payable at December 31, 2025 1219500 Net sales (sales less sales returns) 8.369 .400 Additionat information is as fotlows. 1. Included in the physical count were tools billed to a customer fob. shipping point on December 31,2025 . These tookshad a cost of $31,300 and were billed at $40.800. The shipment was on Vaughn's loading dock waiting to be picked up by the common carrier. 2. Goods were in transit from a vendor to Vaughn on December 31,2025 . The imvoice cost was $76,800, and the goods were shipped fo b, shipping point on December 29,2025. 3. Work in pracess imventory costing $30,800 was sent to an outside processor for plating on December 30,2025 : 4. Tools returned by customers and held pending inspection in the returned goods area on December 31, 2025, were not included in the pliskal count, On January B, 2026, the tools costing $32,800 were inspected and returned to inventory Credit ftemos totaling $47800 were is sued to the customers on the same date. 5. Teols shipped to a customer to.b. destirution on December 26, 2025, were in transit at Decernber 31, 2025, and had a cost of $26,800. ipen notification of receipt by the customer on January 2, 2026, Vaughn issued a sales invoice for $42,800 6. Goods, with an invoice cast of $27,800, received froma vendor at 5;00ppm on December 31, 2025, were recorded on a receiving report dated January 2, 2026. The goods were not included in the ghysical count, but the invice was included in accounts payable at December 31, 2025 . 7. Goods received from a vendor on December 26,2025 , were included in the ptrysical count. However, the related $56, 00 vendor invaice was not included in accounts payable at December 31, 2025, because the accounts paypble copy of the receiving report was lost, 8. On January 3, 2026, monthly freight bill in the amount of $8,800 was received. The bil specifically related to merchandise purchased in December 2025 , one-half of which was stilt in the inventory at December 31,2025 . The freight charges were not included in either the inventory or in accounts payable at December 31,2025. (a1) Prepare is schedule of adjustments as of December 31, 2025, to the initial amounts per Vaugtin's accountingrecords (if an anount Indoce the ecrount baiance then enter either with a nesative sigh preceding the number, es:-15,000 or in parenthesis, eg, 115,000)} - Chap. 7 Prob. Question 1 of 3 1333 Adjustrenty 1 2 3. 4. (b) 7. (i.)