Answer:
Kumi Emiko Co.
a) Adjusting Journal Entries:
Debit Sales Salaries expense $1,800
Credit Sales Salaries Payable $1,800
To record accrued sales salaries.
Debit Selling expense $2,900
Credit Prepaid selling expense $2,900
To record expired selling expense.
Debit Cost of goods sold $5,300
Credit Merchandise Inventory $5,300
To record determined shrinkage in merchandise inventory.
b) Closing Journal Entries:
Debit Sales revenue $ 609,000
Credit Sales returns and allowances $21,500
Credit Sales discounts $7,000 
Credit Income summary $580,500
To close the net sales revenue to the income summary.
Debit Income Summary $526,000
Debit:
Cost of goods sold             $257,300 
Sales salaries expense          69,800 
Utilities expense                    25,000
Selling expenses                   48,900 
Administrative expenses    125,000 
To close cost of goods sold and expenses to the income summary.
Debit Income Summary $54,500
Credit Retained Earnings $54,500
To close the income summary to retained earnings.
Debit Retained Earnings $53,000
Credit Dividends $53,000
To close the dividend to retained earnings.
Explanation:
a) Data and Calculations:
                                                     Debit       Credit 
Merchandise inventory         $ 40,000 
Prepaid selling expenses           7,600 
Dividends                                 53,000 
Sales                                                      $ 609,000 
Sales returns and allowances 21,500 
Sales discounts                          7,000 
Cost of goods sold               252,000 
Sales salaries expense          68,000 
Utilities expense                    25,000
Selling expenses                   46,000 
Administrative expenses    125,000 
Analysis of additional Information:
Sales Salaries expense $1,800 Sales Salaries Payable $1,800
Selling expense $2,900 Prepaid selling expense $2,900
Cost of goods sold $5,300 Merchandise Inventory $5,300
Adjusted accounts:
                                                     Debit       Credit 
Merchandise inventory         $ 34,700 
Prepaid selling expenses           4,700 
Dividends                                 53,000 
Sales Salaries Payable                                   1,800 
Sales                                                      $ 609,000 
Sales returns and allowances 21,500
Sales discounts                          7,000 
Cost of goods sold               257,300 
Sales salaries expense          69,800 
Utilities expense                    25,000
Selling expenses                   48,900 
Administrative expenses    125,000