If a physical count of inventory indicates that the Merchandise Inventory account is overstated, an ...

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If a physical count of inventory indicates that the Merchandise Inventory account is overstated, an ...

If a physical count of inventory indicates that the Merchandise Inventory account is overstated, an adjusting entry is required to record the difference.
A) True
B) False

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

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H3Ko Author

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7 years ago

Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.

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