Nix'lt 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 inventor T. Nix, Capital T. Nix, withdrawals Sales Sales discounts $ 44,300 Sales returns and allowances $ 5,200 108,900 11,600 39,000 5,000 128,300 Cost of goods sold 7,000 Depreciation expense 161,100 Salaries expense 4,200 Miscellaneous expenses A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $42,500 Prepare the entry to record any inventory shrinkage View transaction list Journal entry worksheet Record the adjustment for inventory shrinkage based on physical count Note: Enter debits before credits. Date General Journal Debit Credit July 31 Record entry Clear entry View general journal