Question
Salem Computer?s Merchandise Inventory account at year-end is showing a balance of $55,000. The phypical count of inventory came up with $54,000. Journalize the adjusting
Salem Computer?s Merchandise Inventory account at year-end is showing a balance of $55,000. The phypical count of inventory came up with $54,000. Journalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system. (Record debits first, then credits. Select explanation on the last line of the journal enter table.)
Date Dec. 31 Accounts and Explanation Debit Credit
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Horngrens Accounting
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978-0134213101, 134213106, 133855376, 978-0133855371
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