Answered step by step
Verified Expert Solution
Question
1 Approved Answer
5. The Trial Balance reports inventory of $17,253.46, but your physical count values it at $15,369.62. What is the adjusting Journal entry to correct the
5. The Trial Balance reports inventory of $17,253.46, but your physical count values it at $15,369.62. What is the adjusting Journal entry to correct the Inventory balance? ACCOUNT Inventory Asset Inventory Shrinkage DEBIT CREDIT $1,881.84 $1,883.84 A. ACCOUNT Inventory Shrinkage Inventory Asset DEBIT CREDIT $1,883.84 $1,883.84 B. I DEDIT CREDIT $15,369.02 $15,369,62 C. ACCOUNT Inventory Asset Inventory Shrinkane ACCOUNT Inventory Asset Inventory Shrinkage Cost of Goods Sold DEBIT CREDIT $15,369.02 $1,883.84 $17,253.46 D
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started