On December 31, Marchant Company took a physical count of its merchandise inventory. It operates under the

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On December 31, Marchant Company took a physical count of its merchandise inventory. It operates under the perpetual inventory system. The physical count amounted to $ 185,294. The Merchandise Inventory account shows a balance of $ 187,936. Journalize the adjusting entry.

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College Accounting

ISBN: 978-1111528126

11th edition

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

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