The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2018, unadjusted trial balance of Emiko Co.. Emiko Co. uses a perpetual inventory system. Debit Credit Merchandise inventory $ 32,500 Prepaid selling expenses 6,100 Dividends 38,000 Sales $ 549,000 Sales returns and allowances 18,500 Sales discounts 5,500 Cost of goods sold 222,000 Sales salaries expense 53,000 Utilities expense 17,500 Selling expenses 38,500 Administrative expenses 110,000 Additional Information Accrued sales salaries amount to $1,700. Prepaid selling expenses of $3,500 have expired. A physical count of year-end merchandise inventory shows $30,200 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.