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7. Kappa Tire Ltd.s perpetual inventory records indicate that $3,145,000 of merchandise should be on...

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Accounting

7. Kappa Tire Ltd.s perpetual inventory records indicate that $3,145,000 of merchandise should be on hand on August 31. The physical inventory indicates that $3,113,500 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Kappa Tire Ltd. for the fiscal year ended August 31

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