Flounder Compary had the following account balances at year end Cost of Goods 501d564,510, imventory $14,660, Utilities Expense. $29,240, Sales Revenue $126,730, Sales Discounts $1,140, and 5 ates Returns and Allowances $1,830. A phtystcal count of inventory determines that merchandide imventory on hand is $12,760. They use the perpetual imventory system. Prepare the adjusting entry necessary as a result of the physical count (Uist all debit entries before credit entriles. Credit occount titles are automacically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter ofor the amounts) Prepare closing entries. (List all debit entries before credit entries. Credit occount tities are automatically indented when amount is entered. Do not hindent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts)