Question $6$: A physical count of inventory showed $$525200$ of inventory on hand. The unadjusted trial balance shows an inventory balance of $$531700.$ How should the entry be recorded to adjust inventory?

Account Name

Debit

Credit

$\backslash$table$[[$Points Available:,$5],[$Points Earned:,$]]$

Question $7$: Using the relevant information below, prepare a properly formatted MULTI$-$STEP Income Statement WITH common size percents:

$\backslash$table$[[,$Debit,Credit$],[$Accounts Receivable,$$82,410,],[$Merchandise Inventory,$$85,130,],[$Retained Earnings, Jan $1,,$$$70,460$