Current Attempt in Progress

Sheridan Electronics uses a perpetual inventory system which, at the company's year$-$end December $31,2023,$ indicated an inventory

value of $$1,034,350.$ A physical inventory count was conducted and it was determined that the inventory value was $$994,275.$

Prepare the journal entry to record the difference between the perpetual inventory record and the physical inventory count. $($Credit

account titles are automatically indented when the 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. List debit entry before credit entry.$)$

Account Titles and Explanation

Debit

Credit