I NEED TO DO THIS: Prepare adjusting and correcting entries for December 31, 2017, using the information given. Record the adjusting entry for inventory using a Cost of Goods Sold account. I NEED TEN (10) ENTRIES FOR THIS ACCOUNT.

No.

Account Titles and Explanation

Debit

Credit

Debit Credit Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Insurancee Bond Investment at Amortized Cost Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Goodwill Accounts Payable Bonds Payable (20-year, 6%) Common Shares Retained Earnings Sales Revenue Rent Revenue Advertising Expense Supplies Expense Purchases Purchase Discounts Salaries and wages expense Interest Expense $17,550 108,600 $3,720 59,100 4,574 56,800 28,400 156,600 6,310 32,640 5,440 16,750 100,400 162,000 115,900 77,634 193,500 10,350 21,600 10,150 98,200 810 52,100 13,000 $676,064 $676,064