Required Information Use the following information for the Exercises below. (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 T. Nix, Capital T. Nix, Withdrawals Sales Sales discounts $ 46,800 133,300 7,000 163, 600 4,700 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses $ 4,700 110,400 12,100 41,500 5,000 A physical count of its July 31 year-end Inventory discloses that the cost of the merchandise inventory still available is $44,750. Required Information Use the following information for the Exercises below. (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 T. Nix, Capital T. Nix, Withdrawals Sales Sales discounts $ 46,800 133,300 7,000 163, 600 4,700 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses $ 4,700 110,400 12,100 41,500 5,000 A physical count of its July 31 year-end Inventory discloses that the cost of the merchandise inventory still available is $44,750