A company uses a periodic inventory system and during the December 31, year-end physical inventory count discovered that they have incurred a $300 shrinkage in inventory. Prepare the necessary adjusting entry to record this shrinkage by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 A company uses a periodic inventory system and during the December 31, year-end physical inventory count discovered that they have incurred a $300 shrinkage in inventory. Note: Enter debits before credits. Date 12/31 General Journal Debit Credit Knowledge Check 01 The company has an unadjusted debit balance in Accounts Receivable of $25,000 and an unadjusted credit balance of $10 in Allowance for Sales Discounts as of December 31. Of the $25,000 of receivables, $10,000 are within a 2% discount period that the company expects the buyers to take. Complete the necessary adjusting entry by selecting the account names from the drop-down menus and the amounts in the Debit and Credit columns. View transaction list View journal entry worksheet No Date General Journal 1 12/31 Sales returns and allowances Accounts receivable Debit Credit 20 20 ........ (