Xenfire
Jan 8, 2011, 10:59 AM
The Merchandise Inventory has a debit balance of 255,673.84
The ending inventory is given and is 295,800.50
I assumed you had to debit the Merchandise Inventory account by the difference of the ending inventory and the merchandise inventory (40,126.66), but I don't know what account to credit in order to balance the adjustments column.
The ending inventory is given and is 295,800.50
I assumed you had to debit the Merchandise Inventory account by the difference of the ending inventory and the merchandise inventory (40,126.66), but I don't know what account to credit in order to balance the adjustments column.