#$7$ CH $5$

At the beginning of the year, Snaplt had $$13,200$ of inventory. During the year, Snaplt purchased $$41,400$ of merchandise and sold $$34,800$ of merchandise. A physical count of inventory at year$-$end shows $$14,200$ of inventory exists. Prepare the entry to record inventory shrinkage.

Answer is complete but not entirely correct.

$\backslash$table$[[$No$,$Date,General Journal,Debit,Credit$],[1,$December $31,$Cost of goods sold,$0,20,000\backslash$times $,],[,,$Merchandise inventory,$\backslash$theta $,,20,000\backslash$times $]]$