Presented below is information related to Oriole Company, owned by D. Flamont, for the month of January 2021. Ending inventory per perpetual records Ending inventory actually on hand Cost of goods sold Freight out $22.900 19.500 212.000 6,200 Insurance expense Rent expense Salaries expense Sales discounts Sales returns and allowances Sales $10.900 18,800 55.000 9.400 11.900 378,000 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 for the amounts) Account Titles and Explanation Debit Credit Date Jan. 31 (To adjust ending inventory to actual at year end.) Prepare the necessary closing entries. D. Flamont 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 for the amounts.) Debit Credit Date Jan Account Titles and Explanation 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.)