Adjusting entry for merchandise inventory shrinkage OBJ. 4 Paragon Tire Co.s perpetual inventory records indicate that $2,780,000

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Adjusting entry for merchandise inventory shrinkage OBJ. 4 Paragon Tire Co.’s perpetual inventory records indicate that $2,780,000 of merchandise should be on hand on March 31, 2016. The physical inventory indicates that $2,734,800 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Paragon Tire Co. for the year ended March 31, 2016.

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Financial And Managerial Accounting

ISBN: 9781305267831,9781305267848

13th Edition

Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac

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