The company just took a physical count of inventory and found 5 worth of inventory was unaccount

Name: Problem 10, Chapter 7: Principles of Accounting Volume 1: Financial Accounting
Uploaded: 2021-02-26T04:38:40-08:00
Duration: 47 s
Channel: Oluwadamilola Ameobi
Description: The company just took a physical count of inventory and found 5 worth of inventory was unaccounted for. It was either stolen or damaged. Which journal would the company use to record the correction of the error in inventory? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal

Question

Oluwadamilola Ameobi · Accepted Answer

step 1 The company just took a fiscal count of inventory and found $75 watts. So $75 watts of inventory

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