The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2017, unadjusted trial balance of Emiko Co., a business owned by Kumi Emiko. Emiko Co. uses a perpetual inventory system.

		Debit			Credit
Merchandise inventory	$	32,000
Prepaid selling expenses		6,000
K. Emiko, Withdrawals		37,000
Sales				$	545,000
Sales returns and allowances		18,300
Sales discounts		5,400
Cost of goods sold		220,000
Sales salaries expense		52,000
Utilities expense		17,000
Selling expenses		38,000
Administrative expenses		109,000

Additional Information Accrued sales salaries amount to $1,600. Prepaid selling expenses of $3,400 have expired. A physical count of year-end merchandise inventory shows $29,900 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.