2 part question for entry

/ewconnect.iineductioL.CU Required Information Use the following Information for the Exercises below. The following information applies to the questions displayed below] Nix'it Company's ledger on July 31, ts fiscal year-end, includes the following selected accounts that have normal balanc Nix'it uses the perpetual Inventory system). s s,see 187,1e0 12,ee0 36,8e9 5,ee0 41,300 sales returns and allowances 122,38e cost of goods sold 7,ee9 Depreciation expense 158,800 Salaries expense 3,680 Miscellaneous expenses Merchandise inventory Retained earnings Dividends sales Sales discounts A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still avallable IS $39,800 QS 4-10 Closing entries LO P3 Prepare journal entries to close the balances in temporary revenue and expense shrinkage accounts. Remember to consider the entry for Journal entry worksheet Record the entry to close the temporary revenue and accounts with credit balances. Note: Enter debits before credes July 31