Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below] Nixit Company's ledger on July 31. its fiscal year-end, Includes the following selected accounts that have nor (Nixit uses the perpetual inventory system). A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still ava $44,300 QS 5-10 Closing entries LO P3 Journal entry worksheet Record the entry to close the income statement accounts with credit balances Note: Enter debits before credits. Journal entry worksheet Record the entry to close the income statement accounts with debit balances. Note: Enter debits before credits