The Merchandise Inventory account balance is $56,000. A physical count of inventory reveals that the actual inventory balance is $39,000. Which of the following would included in the adjusting entry? (Assume a perpetual inventory system.) O a $17,000 debit to Merchandise Inventory O a $56,000 debit to Cost of Goods Sold O a $17,000 debit to Cost of Goods Sold O a $39,000 credit to Merchandise Inventory

The Merchandise Inventory account balance is $56,000. A physical count of inventory reveals that the actual inventory balance is $39,000. Which of the following would included in the adjusting entry? (Assume a perpetual inventory system.) O a $17,000 debit to Merchandise Inventory O a $56,000 debit to Cost of Goods Sold O a $17,000 debit to Cost of Goods Sold O a $39,000 credit to Merchandise Inventory

Name: The Merchandise Inventory account balance is $56,000. A physical coun
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Description: The Merchandise Inventory account balance is $56,000. A physical count of inventory reveals that the actual inventory balance is $39,000. Which of the following would beincluded in the adjusting entry? (Assume a perpetual inventory system.)O a $17,0

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 7E: On December 31, Marchant Company took a physical count of its merchandise inventory. It operates...

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