P6-30A (similar to) Some of M and T Electronics's merchandise is gathering dust. It is now December 31, 2018, and the current replacement cost of $30.000 below the business's cost of the goods, which was $104,000. Before any adjustments at the end of the period, the compe a balance of $405,000. Read the requirements. Requirement 1. Journalize any required entries. (Record debits first, then credits. Select the explanation on the last line of the jou not require an entry, make sure to select "No Entry Required" in the first cell in the "Accounts column and leave all other cells bla The required joumal entry would be: Date Accounts and Explanation Debit Credit Dec. 31