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The records of Penny Co. indicated that $394,830 of merchandise should be on hand on December 31. The physical inventory indicates that $391,670 of merchandise
The records of Penny Co. indicated that $394,830 of merchandise should be on hand on December 31. The physical inventory indicates that $391,670 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for the year ended December 31. If an amount box does not require an entry, leave it blank. Dec. 31 Step by Step Solution
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Accounting Principles Part 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
6th Canadian edition
1118306783, 978-1118728918, 1118728912, 978-1118306789
