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Name: Madison Company's perpetual inventory records indicate that $520,930
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Description: Madison Company's perpetual inventory records indicate that $520,930 of merchandiseshould be on hand on October 31. The physical inventory indicates that $505,510 isactually on hand.Journalize the adjusting entry for the inventory shrinkage for Madi

Business

Accounting

Journalize the adjusting entry for the inventory shrinkage for Madison Company for the year ended October 31. If an amount box does not require an entry, leave it blank.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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