Current Attempt in Progress Presented below is information related to Cheyenne Corp. for the month of January 2022. $ 12,830 Insurance expense Ending inventory per perpetual records 24,010 Rent expense $ 24,320 58,530 Ending inventory actually Salaries and wages expense 12,850 on hand 23,620 Sales discounts Sales returns and allowances 15,890 Cost of goods sold 216,070 412,110 Sales revenue Freight-out 6,970 Prepare the necessary adjusting entry for inventory. (Credit account titles are automatically indented when amount is en indent manually. If no entry is required, select "No Entry" for the account titles and enter "O" for the amounts.) Debit Credit Account Titles and Explanation