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	$	33,500
Prepaid selling expenses		6,300
K. Emiko, Withdrawals		40,000
Sales				$	557,000
Sales returns and allowances		18,900
Sales discounts		5,700
Cost of goods sold		226,000
Sales salaries expense		55,000
Utilities expense		18,500
Selling expenses		39,500
Administrative expenses		112,000

Additional Information Accrued sales salaries amount to $1,900. Prepaid selling expenses of $3,700 have expired. A physical count of year-end merchandise inventory shows $30,800 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.