At the beginning of the year, Snaplt had $$13,400$ of inventory. During the year, Snaplt purchased $$41,800$ of

merchandise and sold $$35,100$ of merchandise. A physical count of inventory at year$-$end shows $$14,400$ of

inventory exists. Prepare the entry to record inventory shrinkage.

Journal entry worksheet

Record the inventory shrinkage.

Note: Enter debits before credits.