Whispering Winds Corp. had the following account balances at year-end: Cost of Goods Sold $61,010, Inventory $16,210, Operating Expenses $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. (a) 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit