Last year bell-bottom jeans were fashionable and this year bootcut jeans are. A retail company's inventory has 650 bell-bottom jeans that cost $15.00 each and could be replaced for $17.00. The inventory also includes 1,275 bootcut jeans that cost $19.00 each and could be replaced for $16.00. Prepare the journal entry that would be used to make the adjustment, and show the effects of the adjustment on the a equation. (Leave no cells blank; if no effect, select "NE". Omit the "$" sign in your response.) Debit Credit General Journal (Click to select) Assets - Liabilities + Stockholders' Equity Cost of goods sold Inventory [Click to select Y! (Click to select, Last year bell-bottom jeans were fashionable and this year bootcut jeans are. A retail company's inventory has 650 bell-bottom jeans that cost $15.00 each and could be replaced for $17.00. The inventory also includes 1,275 bootcut jeans that cost $19.00 each and could be replaced for $16.00. Prepare the journal entry that would be used to make the adjustment, and show the effects of the adjustment on the accounting equation. (Leave no cells blank; if no effect, select "NE". Omit the "$" sign in your response.) General Journal Debit Credit (Click to select) Assets Liabilities + Stockholders' Equity Cost of goodscick to select (Click to select) 3825 +3825 1275 NE +1275 Inventory sold Last year bell-bottom jeans were fashionable and this year bootcut jeans are. A retail company's inventory has 650 bell-bottom jeans that cost $15.00 each and could be replaced for $17.00. The inventory also includes 1,275 bootcut jeans that cost $19.00 each and could be replaced for $16.00. Prepare the journal entry that would be used to make the adjustment, and show the effects of the adjustment on the accounting equation. (Leave no cells blank; if no effect, select "NE". Omit the "$" sign in your response.) General Journal Debit Credit Click to select) (Click to select) Assets -Liabilities - Liabilities Stockholders' Equity Cost of goods sold Inventory (Click to selectv 3825 1275 +1275 +3825 NE