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help solve ! Nixit Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances. Nixit uses the perpetual
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Nixit Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances. Nixit uses the perpetual Inventory system Retained earnings $ 117,360 Cost of goods sold Dividends 7,eee Depreciation expense Sales 172,000 Salaries expense Sales discounts 3,100 Miscellaneous expenses Sales returns and allowances 6,380 Prepare the company's year-end closing entries $ 105,600 10, see 33,500 5,000 View transaction list Journal entry worksheet 2 3 4 Record the entry to close the income statement accounts with credit balances. Note: Enter debits before credits General Journal Date July 31 Debit Credit Record entry Clear entry View general Journal Step by Step Solution
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