Adjusting entry for Inventory shrinkage Introduction: Journal entry is the first step of accounting to record day-to-day transactions that a business performs. It helps in further preparing financial statements at the end of the period to assess the financial position of the business.

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Chapter 5, Problem 29BRQ

To determine

To prepare: Adjusting entry for Inventory shrinkage

Introduction: Journal entry is the first step of accounting to record day-to-day transactions that a business performs. It helps in further preparing financial statements at the end of the period to assess the financial position of the business.

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