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

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At year end, the perpetual inventory records of Guiterrez Company showed merchandise inventory of $98,000. The company determined, however, that its actual inventory on hand was $96,100. Record the necessary adjusting entry.

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Accounting Principles Volume 1

ISBN: 978-1119502425

8th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: Feb 21, 2020 11:04 AM

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

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