Question
On December 31, Marchant Company took a physical count of its merchandise inventory. It operates under the perpetual inventory system. The physical count amounted to
On December 31, Marchant Company took a physical count of its merchandise inventory. It operates under the perpetual inventory system. The physical count amounted to $185,294. The Merchandise Inventory account shows a balance of $187,936.
Journalize the adjusting entry.
| GENERAL JOURNAL | PAGE | |||
|---|---|---|---|---|
| DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT |
| 20-- | Adjusting Entries | |||
| Dec. 31 | ||||
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Cost Accounting Fundamentals Essential Concepts And Examples
Authors: Steven M. Bragg
6th Edition
1642210234, 9781642210231
