ECES FULL SCREEN PRINTER VERSION ner Exercise 5-8 Presented below is information related to Sunland Company, owned by D. Flamont, for the month of January 2017 Ending inventory per perpetual records $21,700 Insurance expense $13,000 Ending inventory actually on hand 18,800 Rent expense 19,100 Cost of goods sold 217,000 Salaries expense 55,000 Freight out 7,900 Sales discounts 10,900 Sales returns and allowances 13,000 Sales 371,000 Prepare the necessary adjusting entry for inventory. (Credit account titles are automatically indented when the amount is entered. Do not indent manually is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 31 LINK TO TEXT Prepare the necessary closing entries. D. Flamont did not withdraw any cash during the month of January. (Credit account tities are automatically indented w Skegby Rd (1).ma 2 A 57 A O E BI e to search FULL SCREEN PRINTER VERSION Prepare the necessary dosing entries. D. Flamont did not withdraw any cash during the month of January. (Credit account titles are automatically indented when is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 31 (To close income statement account with credit balances) Jan. 31 (To close income statement accounts with debit balances) Skegby Rd (1).mds 1 o BI earch hp Es FULL SCREEN PRINTER VE (To close income statement accounts with debit balances) Jan. 31 (To close income summary) LINK TO TEXT SAVE FOR Question Attempts: 0 of 3 used Skegby Rd (1).m4a o il to search