Corona Company's perpetual inventory records indicate that $199,240 of merchandise should be on hand on October 30, 20Y1. The physical inventory indicates that $181,310 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Corona Company for the year ended October 30, 20Y1. Assume that the inventory shrinkage is a normal amount. If an amount box does not require an entry, leave it blank.
Corona Company's perpetual inventory records indicate that $199,240 of merchandise should be on hand on October 30, 20Y1. The physical inventory indicates that $181,310 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Corona Company for the year ended October 30, 20Y1. Assume that the inventory shrinkage is a normal amount. If an amount box does not require an entry, leave it blank.
Chapter1: Financial Statements And Business Decisions
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Corona Company's perpetual inventory records indicate that $199,240 of merchandise should be on hand on October 30, 20Y1. The physical inventory indicates that $181,310 of merchandise is actually on hand.
Journalize the
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