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At year-end, the perpetual inventory records of Metlock, Inc, showed merchandise inventory of $126,280. The company determined, however, that its actual inventory on hand was

At year-end, the perpetual inventory records of Metlock, Inc, showed merchandise inventory of $126,280. The company determined, however, that its actual inventory on hand was $122,860. Record the necessary adjusting entry. (Credit occount titles are automotically indented when amount is

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