The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2018, unadjusted trial balance of Emiko Co.. Emiko Co. uses a perpetual inventory system.

		Debit			Credit
Merchandise inventory	$	32,500
Prepaid selling expenses		6,100
Dividends		38,000
Sales				$	549,000
Sales returns and allowances		18,500
Sales discounts		5,500
Cost of goods sold		222,000
Sales salaries expense		53,000
Utilities expense		17,500
Selling expenses		38,500
Administrative expenses		110,000

Additional Information Accrued sales salaries amount to $1,700. Prepaid selling expenses of $3,500 have expired. A physical count of year-end merchandise inventory shows $30,200 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.