The manager of Kalico Furniture Itd has prepared the following table after having done a physical count of inventory on December 31, 2020. Item Serial number Selling price Cost Wooden pine table 30" 4949582957 100 200 Wooden pine table 48" 4553454345 500 250 Blue chair 5050 11948A3098A 140 80 Office chair model 88 45908A08 400 600 Red chair model 9 34398983aa 700 400 Instructions (a) You are the accountant of the company. Record the appropriate journal entry. 4