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 $ 47,300 Sales returns and allowances $ 4,600 T. Nix, Capital 134, 360 Cost of goods sold 110,700 T. Nix, Withdrawals 7,890 Depreciation expense 12,200 Sales 164,100 Salaries expense 42,000 Sales discounts 4,890 Miscellaneous expenses 5, A physical count of its July 31 year-end Inventory discloses that the cost of the merchandise inventory still available is $45,200 Prepare the entry to record any inventory shrinkage. View transaction list Journal entry worksheet > 1 Record the adjustment for invertory shrinkage based on physical count. Not: Exer debit before credits