the solution from 5-9 is $1450

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 T. Nix, Capital T. Nix, Withdrawals Sales Sales discounts $ 40,800 Sales returns and allowances 121.300 Cost of goods sold 7,000 Depreciation expense 159,000 Salaries expense 3,500 Miscellaneous expenses 5.900 106.800 10.900 35,500 5,000 A physical count of its July 31 year-end Inventory discloses that the cost of the merchandise inventory still available is $39.350. Prepare journal entries to close the balances in temporary revenue and expense accounts, Remember to consider the entry for shrinkage QS 5-9. (The solution from QS 5-9 is required to complete this question.) View transaction list Journal entry worksheet