$3.$Madison Company's perpetual inventory records indicate that $$539,650$ of merchandise should be on hand on October $31.$ The physical inventory indicates that $$494,600$ is actually on hand.

Journalize the adjusting entry for the inventory shrinkage for Madison Company for the year ended October $31.$ If an amount box does not require an entry, leave it blank.

Oct. $31$

Cost of Goods Sold

$45,050$

Inventory

$...........(5.$

Selected accounts and amounts appear below.

Inventory $$59,034$

Cost of Goods Sold $510,109$

Journalize the closing entry, assuming a perpetual inventory system. If an amount box does not require an entry, leave it blank.

Retained Earnings

$510,109.....$

Which one is here $?$ Cash, Cost of Goods Sold, Dividents, Inventory, Sales

$..........(7.$ The records of Penny Co$.$ indicated that $$403,340$ of merchandise should be on hand on December $31.$ The physical inventory indicates that $$400,110$ of merchandise is actually on hand.

Journalize the adjusting entry for the inventory shrinkage for the year ended December $31.$ If an amount box does not require an entry, leave it blank.

Dec. $31$

Cost of Goods Sold

$3,230$

Inventory $............(14.$ The following selected transactions relate to cash collections for a firm that maintains a $$100$ change fund at all times. Present entries to record the transactions for each of the two days of cash receipts from sales.

a$.$ Actual cash in cash register, $$5,439$; cash receipts per cash register tally, $$5,479.$

b$.$ Actual cash in cash register, $$5,483$; cash receipts per cash register tally, $$5,358.$

If an amount box does not require an entry, leave it blank.

a$.$

Cash

$5,439......$

Accounts Payable, Accounts Receivable, Cash Short and Over, Credit Card Expense, or Sales

$................$ Accounts Receivable, Cash, Cash Short and Over, Sales, or Sales Discounts $............$

b$.$

Cash

$..........$

Cash Short and Over $..............$ Accounts Payable, Accounts Receivable, Cash, Sales or Sales Discounts $..............$