A Company's Ledger Shows an Inventory Balance of $20,000 and a Physical

question 39

Essay

A company's ledger shows an Inventory balance of $20,000 and a physical count of the inventory shows $19,000.Please provide the adjusting entry needed to record the shrinkage.
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

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Definitions:

Opt-In Email

A promotional or informational email sent to recipients who have explicitly agreed to receive it, aligning with email marketing best practices.

Market Segmentation

The process of dividing a broader market into smaller, homogenous groups based on shared characteristics.

Luxury Products

High-end goods that are often characterized by their quality, price, and status symbols, and are not considered essential items.

Market Segmentation

The process of dividing a broader market into smaller, more homogeneous groups of consumers with similar needs, characteristics, or behaviors.