Suppose Dave's Discounts Merchandise Inventory account showed a balance of $8,000 before the year-end adjustments. The physical count of goods on hand totated S7 400 Dave uses a perpetual inventory system To adjust the accounts, which entry would the company make? Accounts Payable 600 Merchandise Inventory 600 . Accounts and Explanation Debit Credit Merchandise Inventory 600 Accounts Receivable 600 OC Accounts and Explanation Debit Credit Cost of Goods Sold 500 Merchandise Inventory 600 Accounts and Explanation Debit Credit Merchandise Inventory 500 Cost of Goods Sold 600