The following list includes selected permanent accounts and all of the temporary account...

The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2009, unadjusted trial balance of Yamiko Co., a business owned by Kumi Yamiko. Use these account balances along with the additional information to journalize (a) adjusting entries and (b) closing entries. Yamiko Co. uses a perpetual inventory system.

Additional Information

Accrued sales salaries amount to $1,700. Prepaid selling expenses of $1,600 have expired. A physical count of year-end merchandise inventory shows $29,626 of goods still available.