The following list includes selected permanent accounts and all of the temporary accounts from the December 31,

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The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2016, 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 and
(b) Closing entries. Emiko Co. uses a perpetual inventory system.
The following list includes selected permanent accounts and all of

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 $28,700 of goods still available.

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