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Compute the adjusting entry for the inventory shrinkage

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Reference no: EM13510725

Jaguar Inc.'s perpetual inventory records indicate that $584,000 of merchandise should be on hand on July 31, 2007. The physical inventory indicates that $560,000 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Jaguar Inc. for the year ended July 31, 2007.

Reference no: EM13510725

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