p. 190 Exercise 5-15 Preparing closing entries for a merchandiser P3 The following listing of temporary accounts is from the December 31 adjusted trial balance of Emiko Co. Use these normal account balances to journalize closing entries. Debit Credit Debit Credit K. Emiko, Withdrawals. Sales.... $ 33,000 Sales salaries expense.. $ 49,700 $529,000 Utilities expense... 15,000 Sales returns and allowances 17,500 Selling expenses.. 39,000 Sales discounts... 5,000 Administrative expenses..... 105,000 Cost of goods sold 213,300