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Zamora Corporation uses the perpetual inventory system. The following information is presented as of December 31, the end of its fiscal year:
Beginning inventory, January 1
$147,572
Merchandise purchased during the year
68,950
Merchandise sold during the year
112,341
Physical count of ending inventory, December 31
102,789
Instructions:
Prepare the journal entry to adjust Merchandise Inventory at year end on page 10.
Communication Circle
A method or model of communication involving a sender, message, receiver, and feedback that ensures information is effectively relayed and understood among participants.
Feedback
The return of information about the result of a process or activity, an important component for systems regulation and learning.
Message
A piece of information or communication sent from one person to another.
Receiver
A device that receives signals, such as audio or video transmissions, and converts them into a form that can be understood or displayed.
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