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'It uses the perpetual inventory system). Merchandise inventory Retained earnings Dividends Sales Sales discounts $ 44,800 129,300 7,000 161,600 4,300 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses $ 5,100 109,200 11,700 39,500 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $42.950. Prepare the entry to record any inventory shrinkage. View transaction list Journal entry worksheet 1 > Record the adjustment for inventory shrinkage based on physical count. Note: Enter debits before credits. Date General Journal Debit Credit July 31 Record entry Clear entry View general Journal