Tim Jarosz Company had the following account balances at year-end: Cost of Goods Sold $60,000 and Inventory
Question:
Tim Jarosz Company had the following account balances at year-end: Cost of Goods Sold $60,000 and Inventory $15,000. A physical count of inventory determines that merchandise inventory on hand is $13,600.
Instructions
Prepare the adjusting entry necessary as a result of the physical count.
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Related Book For
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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