NixIt Companys ledger on July 31, its fiscal year-end, includes the following selected accounts that...
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NixIt Companys ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances. NixIt uses the perpetual inventory system. Retained earnings $ 121,300 Cost of goods sold $ 106,800 Dividends 7,000 Depreciation expense 10,900 Sales 176,000 Salaries expense 35,500 Sales discounts 3,500 Miscellaneous expenses 5,000 Sales returns and allowances 5,900 Prepare the company's year-end closing entries
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