Nix'It Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances. Nix'It uses the perpetual inventory system. T. Nix, Capital T. Nix, Withdrawals Sales Sales discounts Sales returns and allowances $ 115,300 Cost of goods sold 106,900 7,000 Depreciation expense expense 170,000 Salaries expense 10,300 32,500 4,700 Miscellaneous expenses 5,000 $ 6,500 Prepare the company's year-end closing entries. View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close the income statement accounts with credit balances.