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Can you check my work and provide the correct answer. The following list includes selected permanent accounts and all of the temporary accounts from the
Can you check my work and provide the correct answer.
The following list includes selected permanent accounts and all of the temporary accounts from the December 31 unadjusted trial balance of Emiko Co., a business owned by Kumi Emiko. Emiko Co. uses a perpetual inventory system. Credit Debit $ 39,500 7,500 52,800 $605, eee Merchandise inventory Prepaid selling expenses K. Emiko, Withdrawals Sales Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Utilities expense Selling expenses Administrative expenses 21,300 6,900 250, eee 67. eee 24, see 45, see 124, eae Additional Information Accrued and unpaid sales salaries amount to $1,700. Prepaid selling expenses of $2.800 have expired. A physical count of year-end merchandise inventory is taken to determine shrinkage and shows $34.400 of goods still available. (a) Use the above account balances along with the additional information, prepare the adjusting entries. (b) Use the above account balances along with the additional information, prepare the closing entries. Complete this question by entering your answers in the tabs below. Additional Information Accrued and unpaid sales salaries amount to $1.700. Prepaid selling expenses of $2.800 have expired. A physical count of year-end merchandise inventory is taken to determine shrinkage and shows $34.400 of goods still available. () Use the above account balances along with the additional information, prepare the adjusting entries. (b) Use the above account balances along with the additional information, prepare the closing entries. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the above account balances along with the additional information, prepare the closing entries. No Date General Journal Debit Credit 1 Dec 31 Sales 605,000 Income summary 605,000 2 Dec 31 OOO 8.900 Income summary Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Selling expenses Utilities expense Administrative expenses 24,500 124,000 3 Dec 31 Income summary 4 Dec 31 K Emiko, Capital
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