Nix'ht Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal bala (Nix'It uses the perpetual Inventory system). S 5,9e9 186,809 10,900 35,589 5,009 40,800 Sales returns and allowances 121,300 Cost of goods sold Merchandise inventory T. Nix, Capital T. Nix, withdrawals Sales Sales discounts 7,000 Depreciation expense 159,000 Salaries expense 3,580 Miscellaneous expenses A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $39,350 S 5-10 Closing entries LO P3 Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry fo shrinkage View transaction list Journal entry worksheet Record the entry to dose the temporary revenue and accounts with credit balances. Note: Enter debits before credits Date General Journal DebitCredit July 31