Let's see what you learned in Financial Accounting The following monthly information is taken from the adjusted trial balance of MARKOFF COMPANY, a merchandiser of widgets, as of July 31. A physical inventory at the start of July was \\( \\$ 35,000 \\), while the physical count as of July 31 was \\( \\$ 30,000 \\). REQUIRED: 1) Provide the general journal entries to reflect the transactions above. Assume all sales and purchases were 'on account'. 2) Use \\( T \\) accounts to reflect the entries from \\#1