Question 7 The trial balance for a merchandiser is as follows. A physical count of inventory at the end of the accounting year reveals $28,000 of inventory on hand. (Assume a perpetual inventory system) Debit Credit Cash $12,600 Accounts Receivable 2,400 Prepaid Rent BOO Merchandise inventory 30.000 Accounts Payable $4200 Salaries Payable 1,000 Notes Payable 100 Owner, Capital TABOO Owner, Withdrawals 1000 Sales Have wood Sales Returns and Wowances 1400 Sales Discounts 400