Problem 10-8 (AICPA Adapted) transactions occurred during the last few days of the fiscal Myriad Company revealed the following purchase year, which ends December 31, and in the first few days after that date. L An invoice for P50,000, FOB shipping point, was received and recorded on December 27. The shipment was received in satisfactory condition on January 2. The merchandise was not included in the inventory. An invoice for P75,000, FOB destination, was received and recorded on December 28. The shipment was received in satisfactory condition on January 3. The merchandise was not included in the inventory. 3. An invoice for P30,000, FOB shipping point, was received and recorded on January 4. The invoice showed that the goods had been shipped on December 28 and the receiving report indicates that the goods had been received on January 4. The merchandise was excluded from inventory. An invoice for P90,000, FOB shipping point, was received on December 15. The receiving report indicates that the goods were received on December 18 but across the face of the report is the notation "merchandise not of the same quality as ordered returned for credit, December 19. The merchandise was included in the inventory. 5. An invoice for P140,000, FOB destination, was received and recorded on January 4. The receiving report indicates that the goods were received on December 29. The merchandise was included in inventory. Required: Prepare the adjustments on December 31. Books are still open.