The inventory records of Spiro Company indicate that $62,500 of merchandise should be on hand at the end of the month. The physical inventory indicates that $58,800 is actually hand. The journal entry to adjust inventory shrinkage will include O a. a credít to Cash for $3,700. O b. a credit to Merchandise Inventory for $3,700. Oc. a debit to Merchandise Inventory for $3,700. Od. a credit to Cost of Merchandise Sold for $3,700.
The inventory records of Spiro Company indicate that $62,500 of merchandise should be on hand at the end of the month. The physical inventory indicates that $58,800 is actually hand. The journal entry to adjust inventory shrinkage will include O a. a credít to Cash for $3,700. O b. a credit to Merchandise Inventory for $3,700. Oc. a debit to Merchandise Inventory for $3,700. Od. a credit to Cost of Merchandise Sold for $3,700.
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The inventory records of Spiro Company indicate that $62,500 of merchandise should be on hand at the end of the month. The physical inventory indicates that $58,800 is actually on
hand. The journal entry to adjust inventory shrinkage will include
O a. a credit to Cash for $3,700.
Ob.
O b. a credit to Merchandise Inventory for $3,700.
O c. a debit to Merchandise Inventory for $3,700.
Od. a credit to Cost of Merchandise Sold for $3,700.
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