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The Inventory account for RV Repair Service, Inc., had a balance of $ 123,400 at the end of its fiscal year. A physical count taken
The Inventory account for RV Repair Service, Inc., had a balance of $ 123,400 at the end of its fiscal year. A physical count taken at year end revealed that the value of inventory on hand amounted to $ 120,000. how do you Journalize the adjustment for inventory shrinkage. (Record debits first, then credits. Exclude explanations from any journal entries.)?
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