Current Attempt in Progress

At year$-$end, the perpetual inventory records of Wildhorse Co$.$ showed merchandise inventory of $$115,620.$ The company determined, however, that its actual inventory on hand was $$110,480.$

Record the necessary adjusting entry. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit