The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2011, unadjusted trial balance of Deacon Co., a business owned by Julie Deacon. Deacon Co. uses a perpetual inventory system. Debit Credit Merchandise inventory $28,000 Prepaid selling expenses 5,000 Dividends 2,200 Sales $429,000 Sales returns and allowances16,500 Sales discounts 4,000 Cost of goods sold 211,000 Sales salaries expense 47,000 Utilities expense 14,000 Selling expenses 35,000 Administrative expenses 95,000 Additional Information Accrued sales salaries amount to $1,600. Prepaid selling expenses of $2,000 have expired. A physical count of year-end merchandise inventory shows $27,450 of goods still available. (a) Use the above account balances along with the additional information, prepare the adjusting entries