Emerson St. Book Shop's unadjusted Merchandise Inventory at June 30, 2018 was $5,200.The cost associated with the physical count of inventory on hand on June 30, 2018 was $4,900. In addition, Emerson St. Book Shop estimated approximately $1,000 of merchandise sold will be returned with a cost of $400.

Requirements Emerson Sl. Book Shop's unacjusled Merchandise Inventory al June 30, 2018 55200. The cost associated with the physical sound of inventory on hard on June 30, 2018, was $4.000. In addition, Emerson Sl. Book Shop estimated approximately 31,000 of merchandise sold will be relurred with a cool of S400. Journalize the adjustment for inventory shrinkage Journalize the adjustment for estimated sales mans. 2 Requirement 1. Joumalize the edustment for inventory shrinkage. Record dehis first then credits. Exclude explanations from journal entries.) Date Accounts Debit | Credit Jur. 30 Requirement 2. Joumaize the adjustment for estimated sales retums. (Record debits first, then credits. Exclude explanations from joumal entries First ournalize the estimated reunce. We will record the impact to inventory in the folowing siap. Date Accounts Debit Credit Jur. 30 Now joumaize the cost of the estimated returre Date Accounts Debit Credit Jur. 30 Choose from any list or enter any number in the input fields and then continue to the next cuestion. 2