Seco ko Check my work 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 unadjusted trial balance of Emiko Co., a business owned by Kuml Emiko. Emiko Co. uses a perpetual inventory system. Credit $ 30,500 5,700 34.000 $533,000 Merchandise inventory Prepaid selling expenses Dividends Sales Sales returns and allowances Sales discounts Coat of goods sold Sales salaries expense Utilities expense Selling expenses Administrative expenses 17,700 5.100 214,000 15,500 36,500 106.000 Additional Information Accrued and unpaid sales salaries amount to $1,300. Prepaid selling expenses of $3,100 have expired. A physical count of year. end merchandise Inventory is taken to determine shrinkage and shows $29.000 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 A Required B Use the above account balances along with the additional information, prepare the adjusting entries. Journal entry worksheet Accrued and unpaid sales salaries amount to $1,300. Det Credit Date Dec