Abby's Boutique has an unadjusted balance of $30,500 in Inventory. Through a physical count, the boutique determines that its actual merchandise inventory on hand at December 31 is $30,900. Prepare the adjusting entry necessary.

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The Answer of Abby's Boutique has an unadjusted balance of $30,500 in Inventory. Through a physical count, the boutique determines that its actual merchandise inventory on hand at December 31 is $30,900. Prepare the adjusting entry necessary.

Abby's Boutique Has an Unadjusted Balance of $30,500 in Inventory