The following listing summarizes Tesla's merchandising activities for the year. Cost of merchandise sold to customers Merchandise inventory, beginning year Cost of merchandise purchases, gross amount Shrinkage on merchandise as of year-end Cost of transportation-in for merchandise purchases Cost of merchandise returned by customers and restored to inventory Discounts received from suppliers on merchandise purchases Returns to and allowances from suppliers on merchandise purchases $ 180,000 26,136 184,536 830 1,845 2,000 1,476 4,200 Enter the summarized activities in the two T-accounts below. Complete this question by entering your answers in the tabs below. Merchandise Cost of Goods Inventory Sold Enter the summarized activities in the T-accounts below. Merchandise Inventory 0 Return to question 3 The following list Includes selected permanent accounts and all of the temporary accounts from the December 31 unadjusted trial balance of Emiko Co., a business owned by Kumi Emiko. Emiko Co. uses a perpetual inventory system. Credit 11 points Debit $ 40,000 7,600 53,000 $609,000 Merchandise inventory Prepaid selling expenses K. Emiko, Withdrawals Sales Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Utilities expense Selling expenses Administrative expenses 21,500 7,000 252,000 68,000 25,000 46,000 125,000 Additional Information Accrued and unpaid sales salaries amount to $1,800. Prepaid selling expenses of $2,900 have expired. A physical count of year-end merchandise inventory is taken to determine shrinkage and shows $34,700 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. Answer is not complete. Complete thie nuection hw anterinn var annare in the the holour Mc Graw Hill Education Required 1 Required 2 Use the above account balances along with the additional information, prepare the closing entries. No Date General Journal Debit Credit 1 Dec 31 Sales 609,000 Income summary 609,000 2 Dec 31 Income summary Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Selling expenses Utilities expense Administrative expenses 21,500 7,000 252,000 $ 68,000 X 46,000 X 25,000 125,000 3 Dec 31 Income summary K. Emiko, Capital