The General Ledger Shows a Balance of $67,000 in the Merchandise

question 70

Multiple Choice

The general ledger shows a balance of $67,000 in the Merchandise Inventory account at the end of the period.The physical inventory count shows inventory of $64,400.(Assume a perpetual inventory system.) The adjusting entry includes a ________.

• A) debit to Cost of Goods Sold and a credit to Merchandise Inventory for $2,600
• B) debit to Cost of Goods Sold and a credit to Cash for $2,600
• C) debit to Merchandise Inventory and a credit to Cost of Goods Sold for $2,600
• D) debit to Merchandise Inventory and a credit to Cash for $2,600

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Definitions:

Specificity Theory

A theory that suggests the body's senses have specific receptors for different stimuli, relating to how pain is perceived.

Phantom Limb Pain

Refers to the discomfort or distress felt in an area of the body that has been surgically removed, challenges the brain's sensory map.

Skin Receptors

Specialized sensory cells located in the skin that detect stimuli related to touch, pressure, temperature, and pain, sending signals to the brain for interpretation.

Muscle Tension

The state of being contracted or tense in the muscles, often as a response to stress or physical activity, leading to discomfort or pain.