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	$	33,000
Prepaid selling expenses		6,200
K. Emiko, Withdrawals		39,000
Sales				$	553,000
Sales returns and allowances		18,700
Sales discounts		5,600
Cost of goods sold		224,000
Sales salaries expense		54,000
Utilities expense		18,000
Selling expenses		39,000
Administrative expenses		111,000

Additional Information Accrued and unpaid sales salaries amount to $1,800. Prepaid selling expenses of $3,600 have expired. A physical count of year-end merchandise inventory is taken to determine shrinkage and shows $30,500 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.