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Nix It Company's ledger on July 31, its financial year-end, includes the following selected accounts...

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Accounting

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Nix It Company's ledger on July 31, its financial year-end, includes the following selected accounts that have normal balances (Nix'It uses the perpetual inventory system). Merchandise inventory..$ 34,800 Sales returns and allowances T. Nix, Capital . I I15,300 Cost of goods sold . 102,000 7.300 29,500 2,000 .. .. 7,000 Depreciation expense 157,200 Salaries expense .. Sales Sales discounts A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $32,900. Prepare the entry to record any inventory shrinkage

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