Required information Use the following information for the Quick Study below. [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 Retained earnings Dividends Sales Sales discounts $ 47,300 134,300 7.000 164,100 4,800 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses $ 4,600 110,700 12,200 42,000 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. Journal entry worksheet