Presented below is selected information related to Wildhorse Co. for the year ended January 31,2022. (a) Your answer is correct. 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.) (b) 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 Sales Revernue Debit 406,280 Credit (To close accounts with credit balances) Income Summary (To close accounts with debit balances) (To close net income / (loss)) eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit