The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2011, unadjusted trial balance of Deacon Co., a business owned by Julie Deacon. Use these account balances along with the additional information to journalize
(a) Adjusting entries and
(b) Closing entries. Deacon Co. uses a perpetual inventory system.

Additional Information
Accrued sales salaries amount to $1,600. Prepaid selling expenses of $2,000 have expired. A physical count of year-end merchandise inventory shows $27,450 of goods stillavailable.

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Debit Credit Merchandise inventory. . . Prepaid selling expenses . . J. Deacon, Withdrawals Sales Sales returns and allowances 28.000 5,000 2200 . .4AO4OK $429.000 Cost of goods sold.. . Sales salaries expense Utilities expense Selling expenses Administrative expenses 16.500 4,000 211.000 47.000 14.000 35.000 95,000