Question 7 0 out of 6 points If the physical count of the inventory revealed $216,000 of merchandise on hand and the inventory records reported $225,000, what would be the necessary adjusting entry to record inventory shrinkage? Question 8 0 out of 6 points Badger Co. sold merchandise to Buff Co. on account, $32,600, terms 2/10, net 30. The Buff Co. paid the invoice within the discount period. What is amount of net sales from this transaction? Question 10 0 out of 6 points Jacob Co. sells merchandise on credit to Isaiah Co. in the amount of $9,700. The invoice is dated on May 1 with terms of 1/15, net 45. What is the amount of the discount and up to what date must the invoice be paid in order for the buyer to take advantage of the discount? Question 11 In recording the cost of merchandise sold, based on data available from perpetual inventory records, the journal entry is 0 out of 2 points