Perpetual inventory system-reduce the inventory reflected

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Reference no: EM13792257

Frisbee Hardware uses a perpetual inventory system. At year-end, the Inventory account has a balance of $250,000, but a physical count shows that the merchandise on hand has a cost of only $246,000.

Record the entry to reduce the inventory reflected in the year-end physical count. (Debit and Credit)

Reference no: EM13792257

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