The inventory account of Olympic Sports Wear is as follows.

1. Merchandise inventory account balance $75,000

2. Physical inventory $71,500

Instruction:

Prepare the adjustment journal entry.

Unit 8 Section 2 The inventory account of Olympic Sports Wear is as follows. 1. Merchandise inventory account balance $75,000 2. Physical inventory $71,500 Instruction: Prepare the adjustment journal entry. General Journal Date Description Post. Ref. Debit Credit