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	$	34,500
Prepaid selling expenses		6,500
Dividends		42,000
Sales				$	565,000
Sales returns and allowances		19,300
Sales discounts		5,900
Cost of goods sold		230,000
Sales salaries expense		57,000
Utilities expense		19,500
Selling expenses		40,500
Administrative expenses		114,000

Additional Information Accrued and unpaid sales salaries amount to $2,100. Prepaid selling expenses of $3,900 have expired. A physical count of year-end merchandise inventory is taken to determine shrinkage and shows $31,400 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.