The Garrett Company uses the perpetual inventory system. Although its inventory records indicated $18,000 in the inventory, a physical count showed only $16,250. Which of the following answers indicates the effect of the necessary adjusting entry? 
A) Option A
B) Option B
C) Option C
D) Option D
Correct Answer:
Verified
Q42: Sullivan Company uses the periodic inventory method.
Q46: Consider the information: Q48: Flagler Company purchased $4,000 of merchandise on Q49: The following are the income statements of Q51: Assume the perpetual inventory method is used. Q52: The following are the income statements for Q65: Vargas Company sold a piece of land Q71: The credit terms,2/15,n/30,indicate that a: Q87: Net income percentage is equal to: Q89: Gross margin percentage:
1)
A)fifteen percent discount
A)Net Sales
Company A: $32,000/$80,000 = 40%
Company
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