Audio Outfitter Inc., which uses a perpetual inventory system, experienced a normal inventory shrinkage of $13,675. What accounts would be debitedand credited to record the adjustment for the inventory shrinkage at the end of the accounting period?

College Accounting (Book Only): A Career Approach
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Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...
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Audio Outfitter Inc., which uses a perpetual inventory system, experienced a normal inventory shrinkage of $13,675. What accounts would be debited
and credited to record the adjustment for the inventory shrinkage at the end of the accounting period?

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