I cannot find any examples about this question on my book or anywhere else
Please help.~

The following list includes selected permanent account and all of the temporary accounts from the December 31, 2008, 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.

.. . Debit.. . Credit
Merchandise inventory.. . $30,000
Prepaid selling expenses.. . 5,600
Dvidends.. . 33,000
Sales.. . $529,000
Sales returns and allowances.. . 17,500
Sales discounts.. . 5,000
Cost of goods sold.. . 212,000
Sales salaries expense.. . 48,000
Utilities expenses.. . 15,000
Selling expenses.. . 36,000
Administrative expense.. . 105,000

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
Still available.




How to prepare adjusting and closing entries for a merchandise for this question above?
Please help!

a)
Sales salaries expense 1,700
Sales salaries payable 1,700

Selling Expenses 3,000
Prepaid selling expenses 3,000

Cost of Merchandise Sold 1,550
Merchandise Inventory 1,550
(30,000-28,450)

The closing entry involves closing out your Income Sttement accounts (temporary accounts) to the Income Summary Account and closing the Income Summary account to Retained Earnings (permanent account).

A.income summary 194000
Sales salaries expense 48000
Utilities expense 15000
Selling expense 36000
Administrative expense 105000