Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.] Nixlt 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 $ 40,300 120,300 7,000 159, 200 3,400 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses 6,000 106,500 10,800 35,000 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $38,900. Journal entry worksheet