Required information Use the following information for the Quick Study below Nix'lit 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 37,800 Sales returns and allowances 115,300 Cost of goods sold $ 6,500 105,000 10,300 32,500 5,000 7,000 Depreciation expense 160,200 Salaries expense 4,700 Miscellaneous expenses $35800 chu tits Jy -end inventory discloses that the cost of the merchandise inventory still available is $35,900. [The following information applies to the questions displayed below.) QS 4-10 Closing entries LO P3 Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for shrinkage