Determine if its TRUE or false. You can add additional explaination if necessary. Thank you

I. Write Truc if the statement is correct and False if it is incorrect 1. The company's unadjusted balance in inventory usually does not agree with the actual amount of inventory on hand when using perpetual inventory. 2. In merchandising business, it always uses Rent Receivable instead of Accrued Rent Income. 3. Sales and purchases are adjusted when collection is received and payment is already paid. 4. Under periodic system, adjustments are done as to how entries are adjusted in the service concern business. 5. A merchandising company generally has the same types of adjusting entries as a service company