Help Save & Bolt Submi Check my work Exercise 5-10 Preparing adjusting and closing entries for a merchandiser LO P3 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 $ 33,000 Prepaid selling expenses 6,200 X. Imiko, Withdrawala 39,000 sales $553,000 Sales returns and allowances 18,700 Sales discounts 5,600 Cost of goods sold 224,000 Sales salaries expense 54,000 Utilities expense 18,000 Selling expenses 39,000 Administrative expenses 111,000 Additional Information Accrued sales salaries amount to $1,800. Prepaid selling expenses of $3,600 have expired. A physical count of year-end merchandise Inventory shows $30,500 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the above account balances along with the additional information, prepare the adjusting entries. View transaction list Journal entry worksheet 1 2 2 3 bes Accrued sales salaries amount to $1,800. Note: Enter debits before credits Debit General Journal Date Credit Dec 31 View general Journal Record entry Clear entry Journal entry worksheet 1 3 Prepaid selling expenses of $3,600 have expired. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet 2 A physical count of year-end merchandise inventory shows $30,500 of goods still available. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Prev 7 of 9 Next > Journal entry worksheet