Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 15

Adjusting entry for merchandise inventory shrinkage
Paragon Tire Co.'s perpetual inventory records indicate that $2,780,000 of merchandise should be on hand on March 31, 2016. The physical inventory indicates that $2,734,800 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Paragon Tire Co. for the year ended March 31, 2016.