Return to que ! Required information [The following information applies to the questions displayed below.) Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows: 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its inventory to LCMNRV. OF no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Data General Journal Debit Credit 1 December 31 Cost of Goods Sold Inventory Return to que ! Required information [The following information applies to the questions displayed below.) Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows: 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its inventory to LCMNRV. OF no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Data General Journal Debit Credit 1 December 31 Cost of Goods Sold Inventory