Frisco Company's Merchandise Inventory account at year-end has a balance of $62,115, but a physical count reveals that only $61,900 of inventory exists. The adjusting entry to record this $215 of inventory shrinkage is: Multiple Choice Account Title Merchandise Inventory Inventory Shrinkage Expense Account Title Purchases Discounts Cost of Goods Sold Account Title Cost of Goods Sold Purchases Discounts Account Title Inventory Shrinkage Expense Cost of Goods Sold Account Title Cost of goods sold Merchandise Inventory Debit 215 Debit 215 Debit 215 Debit 215 Debit 215 Credit 215 Credit 215 Credit 215 Credit 215 Credit 215

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