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. Debit Credit Merchandise inventory $ 34,500 Prepaid selling expenses 6,500 K. Emiko, Withdrawals 42,000 Sales $ 565,000 Sales returns and allowances 19,300 Sales discounts 5,900 Cost of goods sold 230,000 Sales salaries expense 57,000 Utilities expense 19,500 Selling expenses 40,500 Administrative expenses 114,000 Additional Information Accrued and unpaid sales salaries amount to $2,100. Prepaid selling expenses of $3,900 have expired. A physical count of year-end merchandise inventory is taken to determine shrinkage and shows $31,400 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.