NixIt Companys ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances. NixIt uses the perpetual inventory system. T. Nix, Capital $ 115,300 Cost of goods sold 106,900 T. Nix, Withdrawals 7,000 Depreciation expense expense 10,300 Sales 170,000 Salaries expense 32,500 Sales discounts 4,700 Miscellaneous expenses 5,000 Sales returns and allowances $ 6,500 Prepare the company's year-end closing entries

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Nix"lt Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances. Nix'lt uses the perpetual inventory system. Prepare the company's year-end closing entries