Required information (The following information applies to the questions displayed below! 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 T. Nix, Capital T. Nix, Withdrawals Sales Sales discounts $ 38, 30e Sales returns and allowances 116,300 Cost of goods sold 7,000 Depreciation expense 160, eee Salaries expense 3, eee Miscellaneous expenses $ 6,400 105,300 10,400 33, eee 5, eee A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $37,100. Prepare the entry to record any inventory shrinkage. 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