$85,000 debit $10,500 credit. . d 47. A post-closing trial balance is prepared after closing entries have been journalized and posted after closing entries have been journalized but before the entries are posted. before closing entries have been journalized and posted. d. b . before closing entries have been journalized but after the entries are posted. 48. Which of the following depicts the proper sequence of steps in the accounting cycle? Journalize the transactions, analyze business transactions, prepare a trial balance b. Prepare a trial balance, prepare financial statements, prepare adjusting entries Journalize the transactions, analyze business transactions, prepare a trial balance Prepare a trial balance, prepare adjusting entries, prepare financial statements c. d. 49 December, 2018 of Haseem Enterprises contains the following information: The income statement for the month of $8,000 Revenues Expenses: Salaries and Wages Expense $3.000 Rent Expense 1,500 Advertising Expense Supplies Expense Insurance Expense Total expenses $2.300 800 300 100 5.700 Net income The entry to close Income Summary to Retained Earnings includes credits to Expenses totalling $5,700. a debit to Revenues for $8,000 a credit to Retained Earnings for $2,300. d. a credit to Income Summary for $2,300 a b. . 50. The following information is for COBM Company Computer Supplies