Presented below is information related to Crane Co., owned by D. Johnson, for the month of January 2024. Prepare the necessary adjusting entry for inventory. (Credit account titles are automatically indented when the 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. List debit entry before credit entry.) Prepare the necessary closing entries. D. Johnson did not withdraw any cash during the month of January. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Jan. 31 (To close income statement account with credit balance.) Jan. 31 (To close income statement accounts with debit balances.) Jan. 31 (To close Income Summary account.) eTextbook and Media