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 $ 37,000 Prepaid selling expenses 7,000 Dividends 47,000 Sales $ 585,000 Sales returns and allowances 20,300 Sales discounts 6,400 Cost of goods sold 240,000 Sales salaries expense 62,000 Utilities expense 22,000 Selling expenses 43,000 Administrative expenses 119,000 Additional Information Accrued sales salaries amount to $1,200. Prepaid selling expenses of $2,300 have expired. A physical count of year-end merchandise inventory shows $32,900 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.