Business, 30.03.2021 21:10 tevaughn06

Pulmonary Company's perpetual inventory records indicate that $237,390 of merchandise should be on hand on June 30, 2016. The physical inventory indicates that $211,280 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Pulmonary Company for the year ended June 30, 2016. Assume that the inventory shrinkage is a normal amount.

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Pulmonary Company's perpetual inventory records indicate that $237,390 of merchandise should be on h...