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. Credit Debit $ 33,000 6,200 39,000 $553,000 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 18,700 5,600 224,000 54,000 18,000 39,000 111,000 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