Adjusting entry for inventory shrinkage Instructions Chart of Accounts Journal Instructions Omega Tire Co.'s perpetual inventory records indicate that $3,145,000 of merchandise should be on hand on August 31, 2014. The physicat lovectory indicates that $3,113,500 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Omega Tire Co. for the fiscal year ended August 31. Peter to the Chart of Accounts for exact wording of account titles structions -hart of Accounts LIVYUMNI 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 218 Salaries Payable 219 Customer Refunds Payable 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Instructions Chart of Accounts Journal Journalize the adjusting entry for the inventory shrinkage for Omega Tiro Co. for the fiscal year ended August 31. Roter to the Chart of Accounts for exact won titles JOURNAL ACCOUNTING EQU DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES Adjusting Entries 2 3