Question: Intrax Inc s perpetual inventory records indicate that 815 400 of merchandise
Intrax Inc.’s perpetual inventory records indicate that $815,400 of merchandise should be on hand on December 31, 2012. The physical inventory indicates that $798,300 of merchandise is actually on hand. Illustrate the effects on the accounts and financial statements of the inventory shrinkage for Intrax Inc. for the year ended December 31, 2012.
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