When the adjustment is made for depreciation, the Depreciation Expense account is increased and the Accumulated Depreciation account is decreased. True False On the worksheet, the Beginning Inventory account is found in the debit column of the Balance Sheet. True False Mortgage Payable is found on the balance sheet. True False Unearned Rent Revenue is a balance sheet account. O True False Sales Discount is used when calculating Gross Profit. O True False The Income Summary account is used to adjust beginning and ending inventories. O True False The ending inventory in Year 1 is the beginning inventory in Year 2. True False Beginning inventory is adjusted by crediting Merchandise Inventory and debiting Income Summary. True False