Exercise 4-10 Preparing adjusting and closing entries for a merchandiser LO P3 The following list Includes selected permanent accounts and all of the temporary accounts from the December 31, 2017, unadjusted trial balance of Emiko Co.. Emiko Co, uses a perpetual inventory system Credit Merchandine inventory Prepaid selling expenses Dividends Sales sales returns and 17, 500 allowances Sales discounts Cost of goods sold 212,000 Sales salaries expense tilities expense 15,000 Seiling expenses Adninistrative 105,000 expenses 30,000 5,600 33,000 $529,000 5,000 48,000 36,000 Additional Information Accrued sales salaries amount to $1,700. Prepaid selling expenses of $3,000 have expired. A physical count of year- end merchandise inventory shows $28,700 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. Required Required Use the above account balances along with the additional information, prepare the adjusting entries. View transaction list Journal entry worksheet Accrued sales salaries amount to $1,700. Note: Enter debits before credits. Dec 31 Record entry View general journal Clear entry