Required information [The following information applies to the questions displayed below.) 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). $ Merchandise inventory T. Nix, Capital T. Nix, Withdrawals Sales Sales discounts $ 41, 800 123, 300 7,000 158, 600 3,700 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses 5, 700 107, 400 11, 100 36,500 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $40,250. 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. General Journal Debit Credit Date July 31 Record entry Clear entry View general journal