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.

Debit Credit

Merchandise inventory $ 33,500

Prepaid selling expenses 6,300

Dividends 40,000

Sales $ 557,000

Sales returns and allowances 18,900

Sales discounts 5,700

Cost of goods sold 226,000

Sales salaries expense 55,000

Utilities expense 18,500

Selling expenses 39,500

Administrative expenses 112,000

Additional Information

Accrued sales salaries amount to $1,900. Prepaid selling expenses of $3,700 have expired. A physical count of year-end merchandise inventory shows $30,800 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.

Required 1 Required 2 Use the above account balances along with the additional information, prepare the adjusting entries. Journal entry worksheet Accrued sales salaries amount to $1,900. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Required 2>