The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2017, unadjusted trial balance of Emiko Co.. Emiko Co. uses a perpetual inventory system. Debit Credit Merchandise inventory $ 39,500 Prepaid selling expenses 7,500 Dividends 52,000 Sales $ 605,000 Sales returns and allowances 21,300 Sales discounts 6,900 Cost of goods sold 250,000 Sales salaries expense 67,000 Utilities expense 24,500 Selling expenses 45,500 Administrative expenses 124,000 Additional Information Accrued sales salaries amount to $1,700. Prepaid selling expenses of $2,800 have expired. A physical count of year-end merchandise inventory shows $34,400 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.