undefined

Exercise 5-07 a-b (Part Level Submission) Pina Company had the following account balances at year-end: Cost of Goods Sold $60,410; Inventory $15,010; Operating Expenses $29,380; Sales Revenue $126,580; Sales Discounts $1,340; and Sales Returns and Allowances $2,090. A physical count of inventory determines that merchandise inventory on hand is $12,360. Prepare the adjusting entry necessary as a result of the physical count. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to show Work for this question: Open Show Work