The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2013, unadjusted trial balance of Emiko Co., a business owned by Kumi Emiko. Use these account balances along with the additional information to journalize

(a) Adjusting entries

(b) Closing entries.

Emiko Co. uses a perpetual inventory system.

Additional Information
Accrued sales salaries amount to $ 1,700. Prepaid selling expenses of $ 3,000 have expired. A physical count of year- end merchandise inventory shows $ 28,450 of goods stillavailable.

Debit Credit Prepaid selling expenses 5,600 33,000 Sales... Sales returns and allowances Sales discounts .TN Cost of goods sold.. Sales salaries expense Utilities expense Selling expenses.... Administrative expenses. $529,000 17.500 5,000 212,000 48,000 5,000 36,000 05,000