On January 13, 2021, Oriole Corporation discovered that goods in transit from a supplier of $114,650 with terms FOB shipping point were not included in the inventory count at the end of the year, December 31, 2020, although the purchase had been recorded in the accounting records. The goods were shipped on December 29, 2020 and received by Oriole on January 10, 2021.

Prepare any correcting journal entry required, assuming Oriole uses a periodic inventory system, the books are closed for 2020 and ignore any income tax effects. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit