Modern Furnishings Company's perpetual inventory records indicate that $890,000 of merchandise should be on hand on April
Question:
$876,250 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Modern Furnishings Company for the year ended April 30, 2014.
Assume that the inventory shrinkage is a normal amount.
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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