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Madison Company's perpetual irventory records indicate that $542,730 of merchandise should be on hand on October 31 . The physical inventory indicates that $492,830 is actually on hand. Required: Joumalize the acfusting entry for the inventory shrinkage for Madisan Company for the year ended Octaber 31 . Refer to the Chart of Acoounts for exact wording of account bives: Chart of Accounts ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Inventory 131 Estimated Returns Inventory 140 Supplies 142 Prepaid Insurance 180 Land 190 Equipment 191 Accumulated Depreciation LIABILITIES 210 Accounts Payable 216 Salaries Payable 221 Sales Tax Payable 222 Customers Refunds Payable 231 Unearned Rent 241 Notes Payable REVENUE 410 Sales EXPENSES 510 Cost of Goods Sold 521 Delivery Expense 522 Advertising Expense 523 Depreciation Expense 526 Salaries Expense 531 Rent Expense 533 Insurance Expense 534 Supplies Expense 536 Credit Card Expense 560 Miscellaneous Expense 710 Interest Expense EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary Journalize the acfusting entry for the inventory shrinkage for Madison Company for the year ended October 31 . Reter to the Chart of Accounts for exact wording of acoount sites