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At year end, the perpetual inventory records of Ivanhoe Company showed merchandise inventory of $ 9 7 , 6 0 0 . The company determined,

At year end, the perpetual inventory records of Ivanhoe Company showed merchandise inventory of $97,600. The company determined, however, that its actual inventory on hand was $96,400. Record the necessary adjusting entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.)
Account Titles
Debit
Credit
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