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. Debit Credit Merchandise inventory $ 36,000 Prepaid selling expenses 6,800 Dividends 45,000 Sales $ 577,000 Sales returns and allowances 19,900 Sales discounts 6,200 Cost of goods sold 236,000 Sales salaries expense 60,000 Utilities expense 21,000 Selling expenses 42,000 Administrative expenses 117,000 Additional Information Accrued and unpaid sales salaries amount to $2,400. Prepaid selling expenses of $2,100 have expired. A physical count of year-end merchandise inventory is taken to determine shrinkage and shows $32,300 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.