Presented below is information related to Sheridan Company for the month of January 2019. $29.890 Ending Inventory per perpetual records Ending inventary actually on hand Cost of goods sold Freight out 29.390 222.830 6.920 Insurance expense Rent expense Salaries and wages expense Sales discounts Sales returns and allowances Sales revenue $11.340 24.070 56,750 12,880 15,870 413 440 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 eTextbook and Media List of Accounts Prepare the necessary closing entries (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 (To dose accounts with credit balances) (Ta dose accounts with debit balances) (To dase net income) (loss))