Paragon Tire Co.'s perpetual inventory records indicate that $2,780,000 of merchandise should be on hand on March

Question:

Paragon Tire Co.'s perpetual inventory records indicate that $2,780,000 of merchandise should be on hand on March 31, 2019. The physical inventory indicates that $2,734,800 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Paragon Tire Co. for the year ended March 31, 2019?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Accounting

ISBN: 978-1337899451

27th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

Question Posted: