K Hawkeye St. Book Shop's unadjusted Merchandise Inventory at June 30, 2024 was $5,000. The cost associated with the physical count of inventory on hand on June 30, 2024, was $4,300. In addition, Hawkeye St Book Shop estimated approximately $1.100 of merchandise sold will be returned with a cost of $800. Requirements 1. Journalize the adjustment for inventory shrinkage 2. Journalize the adjustment for estimated sales retums. Requirement 1. Journalize the adjustment for inventory shrinkage (Record debits first, then credits. Exclude explanations from journal entries.) Date Jun. 30 Accounts Debit Credit Requirement 2. Journalize the adjustment for estimated sales returns. (Record debits first, then credits. Exclude explanations from journal entries.) First journalize the estimated refunds. We will record the impact to inventory in the following step Date Jun 30 Accounts Debit Credit