5 Soved [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). Merchandise inventory T. Nix, Capital T. Nix, withdrawals Sales Sales discounts $ 37,800 Sales returns and allowances 115,300 Cost of goods sold 7,000 Depreciation expense 160,200 Salaries expense 4,700 Miscellaneous expenses $ 6,500 105,000 10,300 32,500 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $35,900. Prepare the entry to record any inventory shrinkage. View transaction list Journal entry worksheet 1 Record the adjustment for inventory shrinkage based on physical count Note: Enter debits before credits General Journal Dobit Credit Date July 31 Prev 3 of 11 !!! Next >