Salem Computer?s Merchandise Inventory account at year-end is showing a balance of $55,000. The phypical count of
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Salem Computer?s Merchandise Inventory account at year-end is showing a balance of $55,000. The phypical count of inventory came up with $54,000. Journalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system. (Record debits first, then credits. Select explanation on the last line of the journal enter table.)
Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo-Ann L. Johnston, Peter R. Norwood
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