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Adjustment for Merchandise Inventory Shrinkage Intrax Inc.'s perpetual inventory records indicate that $815,400 of merchandise should be on hand on December 31, 2014. The
Adjustment for Merchandise Inventory Shrinkage Intrax Inc.'s perpetual inventory records indicate that $815,400 of merchandise should be on hand on December 31, 2014. The physical inventory indica that $798,300 of merchandise is actually on hand. Illustrate the effects on the accounts and financial statements of the inventory shrinkage for Intrax Im for the year ended December 31, 2014. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. When entering the income statement effects, enter amounts that decrease ne income as negative values. Statement of Cash Flows week 2 Busi stat (1).docx) Asses Balance Sheet Liabilities Stockholders' Equity Income Statement Show all
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