2 Required information art 2 of 2 6 ints 02:20:22 Use the following information for Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Nixit 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). eBook Hint Print References Merchandise inventory Retained earnings Dividends Sales Sales discounts $ 47,800 135,300 Sales returns and allowances Cost of goods sold $ 4,500 111,000 7,000 164,600 Depreciation expense Salaries expense 12,300 42,500 4,900 Miscellaneous expenses 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $45,650. H w QS 4-12 (Algo) Closing entries LO P3 Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for shrinkage from QS 4-11. View transaction list < Prev BN 2 of 11 Next > 2 of 2 02:20:17 Book Hint Print Required information View transaction list Journal entry worksheet 1 2 Record the entry to close the income statement accounts with credit balances Note: Enter debits before credits. Date ferences July 31 General Journal Debit Credit Record entry Clear entry View general journal 2 t 2 of 2 ts Required information Journal entry worksheet < 2 Record the entry to close the income statement accounts with debit balances. 02:20:12 eBook Hint Print eferences Note: Enter debits before credits. Date July 31 General Journal: Debit Credit Record entry Clear entry View general journal