At year-end the perpetual inventory records of Garbo Company showed merchandise inventory of $98,000. The company determined,

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At year-end the perpetual inventory records of Garbo Company showed merchandise inventory of $98,000. The company determined, however, that its actual inventory on hand was $96,500. Record the necessary adjusting entry.

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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Sep 20, 2011 09:07 AM

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At year-end the perpetual inventory records of Garbo Company showed merchandise inventory of $98,000. The company determined,

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