Novelly Fumisting Companys perpetual entry records indicato that $877,500 of merchandiso should be on hand on November 30, 2071. The physical inventory Indiantes that $684.400 of merchandise is actually on hand. Journakze the adjusting entry for the inventory shrinkage for Novelty Fishing Company for the year ended November 30, 2011. Assume that the inventory stwinkapo le a normal amount. Peter to the chart of accounts for the exact wording of the account Athos. CNOW ournale do not use lines for journal explanations. Every line on a journal page is used for detur or credit en CNOW Journals will automatically indent a credit enly when a credit amount is entered Journalize the adjusting entry for the inventory shrinkage for Novely Furnishings Company for the year anded November 30, 2011. Assume that the inventory shrinkage is a normal amount Refer to the chart of accounts for the exact wording of the account titles. CNOW Journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered