Question: Using the data given in Exercise 26.1, prepare the general journal entry to record adjustments for inventory accounts. Debit Credit Finished Goods Inventory Work in

Using the data given in Exercise 26.1, prepare the general journal entry to record adjustments for inventory accounts.

Debit Credit Finished Goods Inventory Work in Process Inventory Raw Materials Inventory $ 60,000 $62,000 85,000 45,000 9

Debit Credit Finished Goods Inventory Work in Process Inventory Raw Materials Inventory $ 60,000 $62,000 85,000 45,000 90,000 50,000 Materials Purchases Purchases Returns and Allowances Freight In (on Materials Purchases) 800,000 8,000 30,000

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