6 Exercise 3-10 Preparing closing entries and a post-closing trial balance LO P7, P8 The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31 Account Title Debit Credit 101 Cash $18,000 126 Supplies 9.680 128 Prepaid insurance 2,000 167 Equipment 23,000 168 Accumulated depreciation Equipment $ 6,500 307 Common stock 318 Retained earnings 38,500 319 Dividends 6,000 404 Services revenue 39,000 612 Depreciation expense-Equipment 2,600 622 Salaries expense 22,737 637 Insurance expense 1,638 640 Rent expense 2,613 652 Supplies expense 1,287 Totals $88,875 $88,875 4,775 1. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901 2. Prepare the December 31. post-closing trial balance for Cruz Company. Note: The Retained Earnings account balance was $38,600 on December 31 of the prior year. Complete this questions by entering your answers in the tabs below. Required 1 Required 2 Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. Credit No Date General Journal Debit 39,000 1 Dec 31 Services revenue 39,000 Income summary 25.490 2 Dec 31 Income summary Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expense 2,000 22.737 1,638 2,613 1,287 BO > 6,910 3 Dec 31 6.910 Income summary Retained earnings 6,000 Dec 31 4 6,000 Retained earnings Dividends