8:24 | UE + ACCT 201 - test 2 - spring 2021.d... Below is the Adjusted Trial Balance for Lexington Inc., at December 31, 2018: (10 pts.) ( ) DEBIT CREDIT Cash 6.500 Accounts receivable 12 000 Prepaid rent 9,000 Prepaid insurance 7.000 Equipment 15.000 Accumulated depreciation - equip. 4,000 Land 7.000 Salaries payable 5.000 Notes payable 12.000 Interest payable 1.000 Common stock 15.000 Retained earings (a) 5,000 Dividends 1.000 Sales 58.000 Cost of goods sold 28.000 Supplies expense Rent expense 5,000 Insurance expense 4,000 Depreciation expense 1.5ool Salaries es pense 2,000 Totals 100.000 100.000 (Retained earnings balance on January 1, 2018 Required: (1) Record, in the General Journal, the closing entries at December 31, 2018 (2) Compute the retained Earnings account balance at December 31, 2018 2.000 8:24 | UE + ACCT 201 - test 2 - spring 2021.d... Below is the Adjusted Trial Balance for Lexington Inc., at December 31, 2018: (10 pts.) ( ) DEBIT CREDIT Cash 6.500 Accounts receivable 12 000 Prepaid rent 9,000 Prepaid insurance 7.000 Equipment 15.000 Accumulated depreciation - equip. 4,000 Land 7.000 Salaries payable 5.000 Notes payable 12.000 Interest payable 1.000 Common stock 15.000 Retained earings (a) 5,000 Dividends 1.000 Sales 58.000 Cost of goods sold 28.000 Supplies expense Rent expense 5,000 Insurance expense 4,000 Depreciation expense 1.5ool Salaries es pense 2,000 Totals 100.000 100.000 (Retained earnings balance on January 1, 2018 Required: (1) Record, in the General Journal, the closing entries at December 31, 2018 (2) Compute the retained Earnings account balance at December 31, 2018 2.000