10 Part 2 of 2 Required information [The following information applies to the questions displayed below.) Nix'it Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix'It uses the perpetual inventory system). 0.35 points Merchandise inventory Retained earnings Dividends Sales Sales discounts $ 47,300 134,300 7,000 164,100 4,800 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses $4,600 110,700 12,200 42,000 5,000 eBook Hint A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $45,200 Print Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for shrinkage from QS 4-9. (The solution from OS 4.9 is required to complete this question.) References View transaction list View journal entry worksheet No Date General Journal Debit Credit