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The cost of Pronghorn Music Inc's inventory at December 31, 2024, is $51,900. Its net realizable value on the same date is $49.600. (a)
The cost of Pronghorn Music Inc's inventory at December 31, 2024, is $51,900. Its net realizable value on the same date is $49.600. (a) Prepare the adjusting journal entry required, if any, to record the decline in value of the inventory. (List debit entry before credit entry Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts)
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The transaction is journalized below Account ...
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
