The adjusted trial balance for Dillan?s Tailoring Services on December 31, 2020, appears as follows:

Required

1. Prepare closing entries.

2. Prepare a post-closing trial balance.

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No. Account Debit Credit $ 15,500 101 Cash Store supplies. 6,500 125 3,800 128 Prepaid insurance. Equipment. 167 61,000 $ 19,700 168 Accumulated depreciation, equipment. Accounts payable. 201 39,400 210 Wages payable. 6,400 Vy Dillan, capital. 23,300 301 302 Vy Dillan, withdrawals. 32,000 Sewing revenue. Depreciation expense, equipment. 401 109,920 612 5,400 623 Wages expense. 61,200 2,200 637 Insurance expense. 640 Rent expense.. 4,800 Store supplies expense.. 651 2,600 Utilities expense. 690 3,720 $198,720 $198,720 Totals .