Nix It Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances. Nix't uses the perpetual inventory system. T. Nix, Capital T. Nix, Withdrawals Sales Sales discounts Sales returns and allowances $ 118,300 Cost of goods sold 7,000 Depreciation expense 173,000 Salaries expense 3,200 Miscellaneous expenses 6,200 Prepare the company's year-end closing entries. View transaction list Journal entry worksheet 1 2 3 Record the entry to close the income statement accounts with credit balances. Note: Enter debits before credits. Date General Journal. Debit Credit $ 105,900 10,600 34,000 5,000 Journal entry worksheet < 1 2 3 4 Record the entry to close the income statement accounts with credit balances. Note: Enter debits before credits. Date July 31 General Journal Debit Credit Record entry Clear entry View general journal