9. On December 31, Abott's Pharmacy's Merchandise Inventory account is showing a balance of $44,000. The physical count of inventory came up with $43,300. Journalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system. 10. On December 31, Abott's Pharmacy estimated that approximately $31,000 of merchandise sold during the past year will be returned with a cost of $12,400. Journalize the adjusting entry needed to account for the estimated returns. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) 9. On December 31, Abott's Pharmacy's Merchandise Inventory account is showing a balance of $44,000. The physical count of inventory came up with $43,300. Journalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Dec. 31 Accounts and Explanation Debit Credit