Question 1. (7 Marks) Case 1 Book The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2019 unadjusted trial balance of Kamal Company. Use these account balances along with the additional information to journalize a) adjusting entries and b) closing entries. Kamal uses a perpetual inventory system. Merchandise Inventory Prepaid selling expenses J. Kamal Withdrawals Sales Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Utilities expense Selling expenses Administrative expenses Salaries payable Total Trial Balance Adjustments Adjusted Trail balance Debit Credit Debit Credit Debit Credit 30,000 5,600 33,000 529,000 17,500 5,000 233,900 48,000 15,000 36,000 105,000 529,000 529,000 Additional information Accrued sales salaries amount to 1,700. Prepaid selling expenses 3,000 have expired. A physical count of year end merchandise inventory shows 28,450 of goods still available. Answer a) Adjusting entries b) Closing entries