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 inventory T. Nix, Capital T. Nix, Withdrawals Sales Sales discounts $ 39,800 Sales returns and allowances 119,300 Cost of goods sold 7,000 Depreciation expense 159,408 Salaries expense 3,300 Miscellaneous expenses $ 6,100 106, 200 10,700 34,500 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $38.450. Journal entry worksheet Record the adjustment for inventory shrinkage based on physical count. Note: Enter debits before credits. General Journal Debit Credit Date July 31 SI