Help Save & Exit Submit O 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). 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 32,580 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 journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for shrinkage from QS 5-9. (The solution from QS 5-9 is required to complete this question.) View transaction list Journal entry worksheet Record the entry to close the income statement accounts with credit balances. Note: Enter debits before credits MacBook Air 000 ODO Dil DD co 912 FB FO F4 F10 FS A % 5 & 7 C 9 ) 0 . Il + 6 8 T R T Y U I } 1 O { [ A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $35.900 Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for shrinkage from QS 5-9. (The solution from QS 5-9 is required to complete this question.) View transaction list Journal entry worksheet 1 > Record the entry to close the income statement accounts with credit balances Note: Enter debits before credits. Date Debit Credit July 31 General Journal Sales Income summary Record entry Clear entry View general Journal MacBook Air 00 DII DD 4 000 F10 FS F6 F9 FB A + $ . % 5 & 7 * ( 9 ) 0 = 6 8 - R Y U 0 { [ Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for shrinkage from OS 5-9. (The solution from OS 5-9 is required to complete this question.) View transaction list Journal entry worksheet Record the entry to close the income statement accounts with debit balances. Note: Enter debits before credits Date Debit Credit July 31 General Journal income summary Sales discounts Sales retums and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses Record entry Clear entry View general journal MacBook Air a DII OOO GOD F4 DD F9 F7 F10 112 FS FB F1 - % 5 & 7 ) 0 Il + 6 8 9 R T Y U I I 0 P { [ 11