From the work sheet, prepare the following:

1. Closing entries for Gimbel's Gifts and Gadgets in a general journal.

2. A post-closing trialbalance.

Gimbel's Gifts and Gadgets Work Sheet For Year Ended December 31, 20-1 ADJUSTED TRAL BALANCE TRIAL BALANCE ABJSTETS INCOME STAMERT BALANCE SHEET ACCOUNT EILE DEBIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT CREDIT 8214 00 7 20 00 (D) 16 80 0 00 (a) 14 2 10 00 16 800 00 300 00 600 00 80 0 00 00 8214 00 67 20 00 14 2 10 00 6 80 00 800 00 80 0 00 00 8214 00 6720 00 16|801001 Cash Accounts Recalvable Merchandise Invontory (c) 3 80 00 (d) 200 00 300 00 6 00 00 80 0 0 0 00 Supples Prepald Insurance Bullding 13 6 00 00 5280 00 ()4| 001000 17 6 00 00 5280 00 280 00 3 26 00 87 8 8 3 00 17 6 ol olo Accum. Depr.-Buliding Accounts Payable Wages Payable Sales Tax Payable J. M. Gimbel, Capital 5 280 00 M 280 00 280 00 3 26 00 87 8 8 3 00 3 26 00 87 8 83 00 J. M. Gimbel, Drawing 8000 00 8000 00 8000 00 (2) 14 2 10 00 (b) 16 8 00 00 14 2 10 00 16 8 0 0 00 14 210 00 16 800 00 86 0 00 00 Income Summary Sales 86 0 00 00 86 o 00 00 18 40 00 54 2 00 00 1840 00 54 200 00 18 40 00 Sales Retums and Allowances Purchases 54 200 00 2813 00 108 4 00 2813 00 1084 00 2813 00 1084 00 Purchases Returns and Allowances Purchases Discounts 800 00 16 8 0 0 00 Freight-in Wages Expense Advortising Expense Supples Exponse Telephone Expense Utiities Expense Insurance Expense Depr. Expense Bullding Mscellanoous Epense Interest Expense 800 00 17 0 80 00 800 00 170 80 00 784 00 380 00 2100 00 1310 00 200 00 4000 00 38 6 00 142 00 280 00 () 784 00 380 00 784 00 380 00 (C) 2100 00 1310 00 2100 00 1310 00 200 00 200 00 4000 00 38 6 00 14 200 (4) () 4 00100 386 00 142 00 196 9 86 00 196 9 86 00 35 870 00 218 066 00 218 0 66 00 97 4 3 2 00 106 6 97 00 120 6 3 4 00 111 3 6 9 00 358|01001 9265 00 106 6 97 00 106 6 97 00 120 6 3 4 00 120 6 3 4 00 Net Income 9 265 00