please use typing and not hand writing and show all calculations.

B- On December 31, 2019. the unadjusted credit balance of the Allowance for Overvaluation of Inventories: Hope Branch ledger account in the accounting records of the home office of Farah Company was $60,000. The home office of Farah ships merchandise to the branch at a markup of 20% on billed price. For the fiscal year ended December 31, 2019, the branch bad reported a net loss (based on billed prices of merchandisc shipped from home office) of $18.400 and ending inventories (all received from home office) of $132.000 at billed prices. Required: Prepare journal entries for the home office of Farah Company on December 31, 2019. to record the foregoing information. marks) (6