Presented below is information related to Blue Spruce Corp. for the month of January 2022.

Ending inventory per				Insurance expense		$12,700
perpetual records		$25,240		Rent expense		23,970
Ending inventory actually				Salaries and wages expense		55,370
on hand		24,640		Sales discounts		11,910
Cost of goods sold		212,680		Sales returns and allowances		14,310
Freight-out		7,780		Sales revenue		402,330

(a) Prepare the necessary adjusting entry for inventory. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter "O" for the amounts.) Account Titles and Explanation Debit Credit List of Accounts Save for Later Attempts: 0 of 3 used Submit