MC Qu. 58 Jayson Products uses a perpetual inventory s... Jayson Products uses a perpetual Inventory system. At year-end, the Inventory account had a balance of $393,000, but a complete year-end physical inventory indicated goods on hand costing only $379,500. Jayson should Reduce its cost of goods sold by $13,500. Record a $13,500 current liability. Reduce the balance in its Inventory controlling account and inventory subsidiary ledger by $13,500. O Reduce the balance in the Inventory controlling account and record a current liability, both in the amount of $13,500. MC Qu. 131 A bank statement shows a balance of $... A bank statement shows a balance of $8,445 at June 30. A bank reconciliation is prepared and includes outstanding checks of $2,790, deposits in transit of $1,350, and a bank service charge of $30. Among the paid checks returned by the bank was check no. 900 in the amount of $600, which the company had erroneously recorded in the accounting records as $60. The "adjusted cash balance" at June 30 is: $7,665 $6,255. O $7,005. $6,255