Exercise 5-15 (Algo) Preparing closing entries for a merchandiser LO P3 The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko Company. Use these normal account balances to journalize closing entries. Debit $ 46,000 20,100 6,300 238,000 K. Emiko, Withdrawals Sales Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Utilities expense 61,000 21,500 42,500 Administrative expenses 118,000 Selling expenses Credit $ 581,000 View transaction list Journal entry worksheet 1 2 3 4 Record closing of credit balances in temporary accounts. Note: Enter debits before credits. Date Dec 31 General Journal Debit Credit Record entry Clear entry View general journal >