Requirement 2. Journalize and post the adjusting entries for the month of January Omit explanations. Denote each adjustment as Adj Compute each account balance, and denote the balance as Bal Begin by journalizing the adjusting entries for the month of January. Omit explanations (Record debits first, then credits Exclude explanations from any journal entries) (a) A physical count of the inventory at the end of the month revealed the cost was $937. Date Jan 31 Adj (a) Accounts Debit Credit (b) The company estimated sales returns will be $80 with a cost of $40. Begin by preparing the entry to journalize the sales portion of the adjustment. Do not record the expense adjustment related to the information. We will do that in the following step Date Jan. 31 Adj. (b) Accounts Now journalize the expense adjustment related to the estimated sales returns Date Jan 31 Ad (b) (c) Office supplies used $120. Date Jan 31 Adj. (c) Accounts Debit Credit Debit Credit Accounts Debit Credit