Question: need help on this journal entry! Required information Use the following information for Quick Studies below. (Algo) [The following information applies to the questions displayed
Required information Use the following information for Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Nix'lt Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nixit uses the perpetual inventory system). A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $39,350. QS 4-11 (Algo) Accounting for shrinkage-perpetual system LO P3 Prepare the entry to record any inventory shrinkage. Journal entry worksheet Porord the adiuctment for inventing shrinkane haced on nbucical mount
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