Question 10 Presented below is information related to Novak Company for the month of January 2017 Ending inventory per Insurance expense 12.460 perpetual records 23,950 Rent expense 21.480 Ending inventory actually Salaries and wages expense 58.130 on hand 23,290 Sales discounts 9.300 Cost of goods sold 209,690 Sales returns and allowances 15,860 Freight-Out 7,230 Sales revenue 401,490 (a) Prepare the necessary adjusting entry for inventory. (Credir account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (b) Prepare the necessary dosing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To dost accounts with credit balances) acy Policy 2000-2021 Iohn Wiley in Inri (b) Prepare the necessary closing entries. (Credit account titles are automatically indented when amount Account Titles and Explanation Debit Credit (To close accounts with credit balances.) (To close accounts with debit balances.) (To close net income / (loss).)