ed=false&cd=6183898¢erwineyes ACG2001: 664071, Cejka Fall 2020 CUSTOM Gabriel Romero 09/22/20 5:22 AM Homework: Ch 5 Study Resources Score: 0.4 of 1 pt TIF5-4 (book/static) Save Cot 4 of 8 (4 complete) HW Score: 34.17%, 6.49 of 19 pts Assigned Media Question Help 9. On December 31, Ace's Pharmacy's Merchandise Inventory account is showing a balance of 543,000. The physical count of inventory came up with $42,500 Journalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system 10. On December 31, Ace's Pharmacy estimated that approximately $27,000 of merchandise sold during the past year will be returned with a cost of $8,100 Journalize the adjusting entry needed to account for the estimated returns. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) the following step Date Accounts and Explanation Debit Credit Dec 31 Sales Revenue 27 000 Refunds Payable 27,000 To record estimated refunds for the year. Now record the estimated cost of the expected returns Date Accounts and Explanation Dec. 31 Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All Check