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) Merchandise inventory Retained earnings Dividends Sales Sales discounts $ 47,800 135,300 7,000 164,600 4,900 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses $ 4,500 111,000 12,380 42,500 5,000 A physical count of its July 31 year-end Inventory discloses that the cost of the merchandise inventory still available is $45.650 Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for shrinkage from OS 4.9. (The solution from OS 4.9 is required to complete this question.) Journal entry worksheet >