Required information Prepare the entry to record any inventory shrinkage. Viuw transaction list Journal entry worksheet 1 Record the adjustment for inventory shrinkage based on physical count. Note: Enter debits before credits Son General Journal Obit Credit July 31 588 # 3 * 5 4 2 5 6 Be 7 8 W E R T Y U s D F. G H K ! Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below) Nix"It Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix'it uses the perpetual inventory system). Merchandine inventory Retained earnings Dividends Sales Sales discounts $ 37,800 Sales returns and allowances 115,300 Cont of goods sold 7.000 Depreciation expenso 160.200 Salaries expenso 4,700 Miscellaneous expenses $ 6,500 105,000 10,300 32,500 5.000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $35,900 QS 4-9 Accounting for shrinkage-perpetual system LO P3 Prepare the entry to record any inventory shrinkage. View transaction ist