Mary Monitor, CPA, noted that ABC Co. received goods prior to year-end that were included in physical inventory but had not been recorded. In this case, which of the following adjustments should be made?
A. Debit Purchases/credit Cost of Goods Sold.
B. None.
C. Debit Inventory/credit Accounts Payable.
D. Debit Cost of Goods Sold/credit Accounts Payable.
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