Connect Knowledge Check (due Sat] Saved Helps Required information The following information applies to the questions displayed below.] Nix'It 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 $ 43,300 126,380 7,000 160,100 4,000 Soles returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses 5,400 108,300 11,400 38.000 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $41.600. Prepare the entry to record any inventory shrinkage View transaction list Journal entry worksheet 1 of 3 !!! Next > onnect Knowledge Check [due Sat) Required information Journal entry worksheet Record the adjustment for inventory shrinkage based on physical count Note: Enter debits before credits. General Journal Debit Credit Date July 31 Record entry Clear entry View general journal Prev 1 of 3 !!! Next > DELL