> Score: 0 of 1 pt 5015 (4) HW Score: 46% P6-30A (similar to) Question Some of P and Y Electronics's merchandise is gathering dust it is now December 31, 2018, and the current replacement cont of the ending merchandisinys 315.000 the business's cost of the good which was 3108.000 Before any adjustments at the end of the period, the company's Cost of Good Sold account has a balance of 5.90 000 Read the requirements Requirement 1. Journaltze any required ante. (Record dobits first, then credits Select the explanation on the last time of the joumal etry table For what that do not require an entry, make sure to select "No Entry Required in the first call in the "Account count and leave all the colle blank) The required journal entry would be Date Accounts and Explanation De Credit Dec 31 ? Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All 9:14 2/25212 3 parts and the requirements - X table For situations that do not Requirements quirement 1. Joumalize any required entry, make sure to select "No Entry Reg e required journal entry would be Accou Date ec. 31 1. Joumalize any required entries 2. At what amount should the company report merchandise inventory on the balance sheet? 3. At what amount should the company report cost of goods sold on the income statement? 4. Which accounting principle or concept is most relevant to this situation? Print Done