Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.) Nix'lt 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 $ 47,300 Sales returns and allowances 134, 3ee cost of goods sold 7,eee Depreciation expense 164,108 Salaries expense 4,800 Miscellaneous expenses 4,600 110,700 12,200 42, eee 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $45,200 QS 5-9 Accounting for shrinkage-perpetual system LO P3 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