NixIt Companys ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal
Question:
A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $32,900. Prepare the entry to record any inventoryshrinkage.
Transcribed Image Text:
T. Nix. Capital T. Nix. Withdrawals... Sales Sales discounts Merchandise inventory 34800 Sales returns and allowances$ 3,500 5.300 Cost of goods sold .102000 7,300 29,500 2,000 7000 Depreciation expense. .. 70 Salaries expense
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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