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At year end, the perpetual inventory records of Cullumber Company showed merchandise inventory of $97,800....

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Accounting

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At year end, the perpetual inventory records of Cullumber Company showed merchandise inventory of $97,800. The company determined, however, that its actual imventory on hand was $96,400. Record the necessary adjusting entry. (Credit account titles ore outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tittes an enter ofor the amounts. List debit entry before credit entry.)

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