Question: Please indicate whether an account is an asset (A), liability (L), or equity (E) for (1) journal entries, (2) adjusting entries, and (3) closing entries

Please indicate whether an account is an asset (A), liability (L), or equity (E) for (1) journal entries, (2) adjusting entries, and (3) closing entries to receive full credits. 1. Matlock Company uses a perpetual inventory system. Its beginning inventory consists of 50 units that cost $ 34 each. On June 3, the company purchased 150 units at $ 34 each. On June 15, the company sold 125 units at $ 50 each. The company closes the books on June 30. Make all journal entries for the month of June. Please include the dates when making journal entries. 2. Matlock Company uses a periodic inventory system. Its beginning inventory consists of 50 units that cost $ 34 each. On June 3, the company purchased 150 units at $ 34 each. On June 15, the company sold 125 units at $ 50 each. The company closes the books on June 30. The physical counts indicate that 75 units are available in the warehouse on June 30. Make all journal entries for the month of June. Please include the dates when making journal entries

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