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'tt uses the perpetual inventory system). A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $35,900. Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for hrinkage from OS 4-11. Journal entry worksheet Record the entry to close the income statement accounts with credit balances. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the income statement accounts with debit balances. Note: Enter debits before credits