The adjusted trial balance of A Oriole Company at the end of its fiscal year, August 31 , 2022, includes these accounts: Inventory $19,500 : Purchases $156,000; Sales Revenue $193,000; Freight-in $4,350; Sales Returns and Allowances $3,200; Freight-Out $1,700; and Purchase Returns and Allowances $3,000. The ending inventory is $24,500. Prepare a cost of goods sold section on the income statement for the year ended August 31,2022 (periodic inventory system). Monty Company had the following account balances at year-end: Cost of Goods Sold $61,010, Inventory $16,210, Utilities Expense $33,010, Sales Revenue $123,840. Sales Discounts $1,230, and Sales Returns and Allowances $2,050. A physical count of inventory determines that merchandise inventory on hand is $12.920. They use the perpetual inventory system. (a) Prepare the adjusting entry necessary as a result of the physical count. (List all debit entries before credit entries. Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter ofor the amounts.)