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 $30,700. Joumalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system On December 31. Athen's Phamacy estimated that approximately $24,000 of merchandise sold during the past year will be returned with a cost of $7.200. Joumalize the adjusting entry needed to account for the estimated retums (Record debts first, then credits Select the explanation on the last line of the journal entry table) 8. On December 31, Athen's Pharmacy's Marchandise 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 (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Date Dec. 31 Accounts and Explanation Debit Credit 10. On December 31, Aher's Pharmacy estimated that approximately $24,000 of merchandise sold during the past year will be refumed with a cost of $7200 Joumalize the adjusting entry needed to account for the estimated returns (Record debils frst, then credits. Select the explanation on the last line of the journal entry lable) Start by coding the sevenue austment reted to the expected retums. Do not record the estimated cost of the expected retums with this entry We will do that in the following step Da O 31 Accounts and Explanation Debit Credit