snipping point on vecember 29. 6. A freight bill in the amount of $2,800 specifically relating to inventory purchased in December, all of which was still in the inventory at December 31, was recelved on January 3 . The freight bill was not included in either the inventory or in account: payable at December 31. 7. All the purchases from Boxes occurred during the last seven days of the year. These items have been recorded in accounts payoble and accounted for in the physical inventory at cost before discount. Rachet's policy is to pay invoices in time to take advantage of all discounts, adjust inventory accordingly, and record accounts payable net of discounts. Required: Complete the following schedule of adjustments to the initial amounts. Note: Amounts to be deducted should be indicated with a minus sign