12 5 points eBook QS 4-15 (Algo) Closing entries LO P3 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. Retained earnings Dividends Sales Sales discounts Hint References Sales returns and allowances $ 129,300 Cost of goods sold 7,000 Depreciation expense 184,000 Salaries expense 4,300 Miscellaneous expenses 5,100 Prepare the company's year-end closing entries. $ 109,200 11,700 39,500 5,000 View transaction list Journal entry worksheet 3 4 Record the entry to close the income statement accounts with credit balances. Note: Enter debits before credits.