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Nixit company ledger on july 31 its fiscal year end includes the following accounts that...

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Nixit company ledger on july 31 its fiscal year end includes the following accounts that have normal balances (Nix it uses the perpetual system) merchandise inventory 37800 retained eranings 115300 dividends 7000 sales 160200 sales discounts 4700 sales returns and allowances 6500 cost of goods sold 105000 depreciation expense 10300 salaries expense 32500 miscelleneous expenses 5000 a physical count of its July 31 year-end inventory reveals that the cost of the merchandise inventory still available is 35900 inventory shrinkage 1900 question prepare journal entries toclose the balances in temporary revenue and expense and accounts

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