The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2017, unadjusted trial balance of Co., business owned by Kumi Emiko. Co. perpetual system. Debit Credit Merchandise inventory 38,500 Prepaid selling expenses 7,300 K. Emiko Withdrawals 50,000 Sales $597,000 Sales returns and allowances 20,900 Sales discounts 6,700 cost of goods sold 246,000 Sales salaries expense 65,000 Utilities expense 23,500 44,500 Selling expenses 122,000 Administrative expenses Additional Information Accrued sales salaries amount to $1,500. Prepaid selling expenses of $2,600 have expired. A physical count of year-end merchandise inventory shows $33,800 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