10 On December 31, Athen's Pharmacy's Merchandise Inventory account is showing a balance of $40,000. The physical count of inventory came up with $39.700 Joumalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system On December 31, Ather's Pharmacy estimated that approximately $24.000 of merchandise said during the past year will be refumed with a cost of $7,200. Journalize the adjusting entry needed to account for the estimated returns Recont dabits first, then oh Select the explanation on the last line of the journal entry table.) 8. On December 31, Ather's Pharmacy's Merchandise Inventory account is showing a balance of $40,000. The physical count of inventory came up with $39,700 Journalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system (Record debits first, then credits. Select the explanation on the last Sne of the journal entry table.) Date Dec 31 Accounts and Explanation Debit Credit 10. On December 31, Athens Pharmacy astmated that approximately $24,000 of merchandise sold during the past year will be retumed with a cost of $7,200 Joumalize the adjusting entry needed to account for the estimated retums. (Record dabis first, then credits Select the explanation on the last line of the joumal entry table) Start by recording the revenue arment related to the expected retuma. Do not record the estimated cost of the expected return with this entry. We will do that in the folowing step Date D31 Accounts and Explanation Now record the estimated cost of the expected Debit Cred