Question

Road Runner Tire Co.'s perpetual inventory records indicate that $1,498,200 of merchandise should be on hand on December 31, 2014. The physical inventory indicates that $1,483,750 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Road Runner Tire Co. for the year ended December 31, 2014.



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  • CreatedFebruary 28, 2014
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