Please solve both parts thank you.

7. M.K. Robson Supplies had merchandise Inventory that cost $1,900. The market value of the merchandise inventory is $1,500. What value should Robson Supplies show on the balance sheet for merchandise Inventory? Record the adjusting entry, if one is needed. What value should Robson Supples show on the balance sheet for merchandise inventory? O A $1.900 B. $1.500 OC. $3.400 OD. $400 Record the adjusting entry one is needed Record debits first, then credits Select an explanation on the last line of the journal entry table For situations that do not require an entry, make sure to select 'No entry required in the r ol in the "Accounts and Explanations column and leave all other cells blank.) Date Accounts and Explanations Credit Dec 31