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please answer these two part of question thank you 1a. Assume Parry uses the allowance method and a perpetual inventory system. Prepare the necessary journal

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1a. Assume Parry uses the allowance method and a perpetual inventory system. Prepare the necessary journal entries to record: 1. the correct inventory valuation on December 31, 2019 2. the reduction in inventory when the inventory from December 31, 2019 is sold during 2020 3. the correct inventory valuation on December 31, 2020 4. the reduction in inventory when the inventory from December 31, 2020 is sold during 2021 5. the correct inventory valuation on December 31, 2021 (if necessary) 1b. Assume Parry uses the direct method and a perpetual inventory system. Prepare the necessary journal entries to record: 1. the correct inventory valuation on December 31,2019 2. the reduction in inventory when the inventory from December 31, 2019 is sold during 2020 3. the correct inventory valuation on December 31, 2020 4. the reduction in inventory when the inventory from December 31, 2020 is sold during 2021 5. the correct inventory valuation on December 31, 2021 (if necessary) Question not attempted. GENERAL JOURNAL 1a. Assume Parry uses the allowance method and a perpetual inventory system. Prepare the necessary journal entries to record: 1. the correct inventory valuation on December 31, 2019 2. the reduction in inventory when the inventory from December 31, 2019 is sold during 2020 3. the correct inventory valuation on December 31, 2020 4. the reduction in inventory when the inventory from December 31, 2020 is sold during 2021 5. the correct inventory valuation on December 31, 2021 (if necessary) 1b. Assume Parry uses the direct method and a perpetual inventory system. Prepare the necessary journal entries to record: 1. the correct inventory valuation on December 31,2019 2. the reduction in inventory when the inventory from December 31, 2019 is sold during 2020 3. the correct inventory valuation on December 31, 2020 4. the reduction in inventory when the inventory from December 31, 2020 is sold during 2021 5. the correct inventory valuation on December 31, 2021 (if necessary) Question not attempted. GENERAL JOURNAL

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