Nix'it Company's ledger on July 21, it's fiscal year-end, includes the following selected accounts that have normal balances (Nix'it uses the perpetual inventory system

Merchandise inventory $ 39,300

T. Nix, Capital $118,300

T. Nix Withdrawals $7,000

Sales $159,600

Sales discounts $3,200

Sales returns and allowances $6,200

Cost of goods sold $105,900

Depreciation expense $10,600

Salaries expense $34,000

Miscellaneous expenses $5,000

Record the entry to close the income statement accounts with debit balances.

Record the entry to close the income statement accounts with debit balances.