E5.7 (LO 4) Hezir Creations had the following account balances at year-end: Cost of Goods Sold +60,000, Inventory +15,000, Operating Expenses +29,000, Sales Revenue t 117,000, Sales Discounts +1,300, and Sales Returns and Allowances +1,700. A physical count of inventory determines that merchandise inventory on hand is +14,200. Prepare adjusting and closing entries. Instructions a. Prepare the adjusting entry necessary as a result of the physical count. b. Prepare closing entries