Magnum St. Book Shop's unajusted Merchandise Inventory at June 30, 2024 was $6,400. The doey associated with the physical count of inventory on hand on June 30, 2024 wad $5,900. In addition, Magnum St. Book Shop estimated approximately $1,200 of merchandise sold will be returned with a cost of $750.

Magnum St. Book Shop's unadjusted Merchandise Inventory at June 30, 2024 was $6,400. The cost associated with the physical count of inventory Requirements Joumalize the adjustment for inventory shrinkage. Journalize the adjustment for estimated sales returns 1. 2 Requirement 1. Journalize the adjustment for inventory shrinkage. (Record debits first, then credits. Exclude explanations from joumal entries) Date Accounts Debit Credit Jun 30 2 Type to search 2 E D Please answer the question in full if you know how to do it! Please allign the answers how the questions are so it's not confusing for me to figure out where it goes! Will give a thumbs up if the answer is correct! If you have trouble reading any of the images please let me know so I can post another picture