On June 12, 2017, Dig Company sold land that they purchased on May 5, 1999 for $103,000. They sold the land for $150,000 cash. Prepare the Journal Entry to record the sale of the land on June 12, 2017. Account Debit Credit Lily Company uses the perpetual method. The company's inventory account had a $6,500 balance as of December 31, 2017. A physical count of inventory shows $5,800 of merchandise in stock at December 31, 2017. The entry to recognize the missing inventory will: Account Debit Credit