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Tutorial 18759

At year-end the perpetual inventory records of Garbo Company showed merchandise inventory of $98,000. The company determined, however, that its actual...

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Question:

At year-end the perpetual inventory records of Garbo Company showed merchandise inventory of $98,000. The company determined, however, that its actual inventory on hand was $96,500.

Required:

Record the necessary adjusting entry.

ATTACHMENTS
question_2.xlsx