A completed worksheet for The King Group is given below. Income Statement Debit Credit Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation -Equipment Accounts Payable Delva King, Capital Delva King, Drawing Fees Income Supplies Expense Advertising Expense Depreciation Expense- Equipment Salaries Expense Utilities Expense Totals Net Income The King Group Worksheet Month Ended December 31, 2019 Trial Balance Adjustments Adjusted Trial Balance Debi Credit Debit Credit Debit Credit 93,400 93,400 13,000 13,000 8,000 (a) 3,400 4,600 32,000 (b) 4,000 28,000 85,000 85,000 (c) 3,400 3,400 13,000 13,000 142,000 142,000 9,400 9,400 103,500 103,500 (a) 3,400 3,400 (b) 4,000 4,000 (c) 3,400 3,400 15,400 15,400 2,300 2,300 258,500 258,500 10,800 10,800 261,900 261,900 Balance Sheet Debit Credit 93,400 13,000 4,600 28,000 85,000 3,400 13,000 142,000 9,400 103,500 3,400 4,000 3,400 15,400 2,300 28,500 75,000 103,500 103,500 233,400 158,400 75,000 233,400 103,500 233,400 Required: 1. Record the adjusting entries in the general journal (transactions 1-3). 2. Record the closing entries in the general journal (transactions 4-7). 3. Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. 4. Prepare a post-closing trial balance. Analyze: How many accounts are listed in the adjusted and post-closing trial balance section? Supplies Date Debit Dec 31, 2019 Dec 31, 2019 Account No: 121 Credit Balance 8,000 Account No: 131 Credit Balance Prepaid Advertising Date Debit Dec 31, 2019 Dec 31, 2019 Account No: 301 Accumulated Depreciation, Equipment Date Debit Dec 31, 2019 Account No: 142 Credit Balance Date Credit Balance Delva King, Capital Debit Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Account No: 302 Credit Balance Account No: 309 Credit Balance Date Delva King, Drawing Date Debit Dec 31, 2019 Dec 31, 2019 Income Summary Debit Dec 31, 2019 Dec 31, 2019 Dec 31, 2019 Account No: 401 Credit Balance Account No: 511 Credit Balance Fees Income Date Debit Dec 31, 2019 Dec 31, 2019 Salaries Expense Date Debit Dec 31, 2019 Dec 31, 2019 Account No: 514 Credit Balance Account No: 517 Credit Balance Utilities Expense Date Debit Dec 31, 2019 Dec 31, 2019 Supplies Expense Date Debit Dec 31, 2019 Dec 31, 2019 Depreciation Expense- Equipment Date Debit Dec 31, 2019 Dec 31, 2019 Account No: 523 Credit Balance Advertising Expense Date Debit Dec 31, 2019 Dec 31, 2019 Account No: 526 Credit Balance THE KING GROUP Post-closing Trial Balance December 31, 2019 Account Name Debit Credit Totals $ $ 0 accounts Adjusted trial balance Post-closing trial balance accounts