A completed worksheet for The King Group is given below THE KING GROUP Worksheet Month Ended December 31, 20x1 Account Name Debit Trial Balance Credit Adjustments Adjusted Trial Balance Debit Credit Cash 92,400 Debit Credit 92,400 Income Statement Debit Credit Balance Sheet Debit Credit Accounts receivable 92,400 12,000 12,000 Supplies 12,000 Equipment Accounts payable Prepaid advertising Accumulated depreciation-Equipment Delva King, Capital 6,000 (a) 2,400 3,600 3,600 24,000 (b) 3,000 21,000 21,000 60,000 60,000 60,000 (c) 2,400 2,400 2,400 12,000 12,000 12,000 Delva King, Drawing Fees income. Supplies expense 132,000 132,000 132,000 8,400 8,400 8,400 75,000 75,000 75,000 Salarles expense Utilities expense Totals Net income Advertising expense Depreciation expense-Equipment (a) 2,400 2,400 2,400 (b) 3,000 3,000 3,000 (c) 2,400 2,400 2,400 14,400 1,000 14,400 14,400 1,800 1,800 219,000 219,000 7,800 7,800 221,400 221,400 24,000 75,000 197,400 146,400 51,000 $1,000 75,000 75,000 197,400 197,400 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 postclosing trial balance.