At the beginning of the year, Snaplt had $$12,400$ of inventory. During the year, Snaplt purchased $$39,800$ of merchandise and sold $$33,600$ of merchandise. A physical count of inventory at year$-$end shows $$13,400$ of inventory exists. Prepare the entry to record inventory shrinkage.

Journal entry worksheet

$1$

Record the inventory shrinkage.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\backslash$table$[[$December$],[31]],,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$