Basga Company uses the periodic inventory system. Beginning inventory amounted to $241,072. A physical count reveals that the latest inventory amount is $256,339. Record the adjusting entries, using T accounts. Merchandise Inventory Income Summary (a) Bal. 241,072 Adj. (b) Adj. X X (a) Adj. (b) Adj. 256,339
Basga Company uses the periodic inventory system. Beginning inventory amounted to $241,072. A physical count reveals that the latest inventory amount is $256,339. Record the adjusting entries, using T accounts. Merchandise Inventory Income Summary (a) Bal. 241,072 Adj. (b) Adj. X X (a) Adj. (b) Adj. 256,339
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...
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![Basga Company uses the periodic inventory system. Beginning inventory amounted to $241,072. A physical count reveals that the latest inventory amount is $256,339. Record the adjusting entries, using T accounts.
Merchandise Inventory
Income Summary
(a)
Bal.
241,072
Adj.
(b)
Adj.
X
X
(a)
Adj.
(b)
Adj.
256,339](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa35c76b2-e204-433b-a3c7-ded9123855fd%2Ff79963df-3016-49e1-bf3e-32ef483930c1%2F3yb3b3i.png&w=3840&q=75)
Transcribed Image Text:Basga Company uses the periodic inventory system. Beginning inventory amounted to $241,072. A physical count reveals that the latest inventory amount is $256,339. Record the adjusting entries, using T accounts.
Merchandise Inventory
Income Summary
(a)
Bal.
241,072
Adj.
(b)
Adj.
X
X
(a)
Adj.
(b)
Adj.
256,339
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