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. Credit Debit $ 39,000 7,400 51,000 $ 601,000 Merchandise inventory Prepaid selling expenses Dividends Sales Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Utilities expense Selling expenses Administrative expenses 21,100 6,800 248,000 66,000 24,000 45,000 123,000 Additional Information Accrued sales salaries amount to $1,600. Prepaid selling expenses of $2,700 have expired. A physical count of year-end merchandise inventory shows $34,100 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. No Date General Journal Debit Credit 1 Dec 31 601,000 Sales Income summary 601,000 2 Dec 31 21,100 6,800 Income summary Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Utilities expense Selling expenses Administrative expenses 3 Dec 31 Income summary Retained Earnings 4 Dec 31 Retained Earnings Dividends