Required information Use the following information for the Quick Study below. The following information applies to the questions displayed below) Nxt Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nixit uses the perpetual inventory system) Merchandise inventory Dividende $ 40,00 120,100 7,000 15,200 3.400 Sales return and allowances Coot of goods sold Depreciation expense salaries expense Miscellaneous expenses 6,000 106,500 10.800 35,000 5.000 Sales discount A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $38.900 Prepare the entry to record any inventory shrinkage. View transaction list Journal entry worksheet Record the adjustment for inventory shrinkage based on physical count. Note: Enter debits before credits General Journal Date Debit Credit Record entry Clear entry View general Journal Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for shrinkage from QS 4-9. (The solution from QS 4-9 is required to complete this question.) View transaction list Journal entry worksheet Record the entry to close the income statement accounts with credit balances Note: Enter debits before credits Date General Journal Debit Credit Record entry Clear entry View general journal Required information Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the shrinkage from QS 4-9. (The solution from QS 4-9 is required to complete this question.) View transaction list Journal entry worksheet Record the entry to close the income statement accounts with debit balances. Note: Enter debits before credits Date General Journal Debit Credit July 31