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2. If the amount of the physical count of the stock of merchandise is less than the recorded amount, the following adjusting entry is made
2. If the amount of the physical count of the stock of merchandise is less than the recorded amount, the following adjusting entry is made under the perpetual inventory system: A) Debit cost of goods sold and credit merchandise inventory B) Debit merchandise inventory and credit cost of goods sold C) Debit merchandise inventory and credit accounts payable D) Debit sales and credit cost of goods sold
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