A. PREPARE THE CLOSING ENTRIES B. PREPARE THE POST CLOSING TRIAL BALANCE PART II (20 PTS) Presented below are the year-end balances at December 31 of Laura's Laundry Service. (All accounts have normal balances.) Accounts receivable............ S 12.000 Accounts payable................... 25,000 Accumulated depreciation-Catering equipment 30,000 Advertising expense........ 4,000 Cash. 42,000 Depreciation expense Catering equipment.... 12,000 Insurance expense .......... 3,000 Catering equipment........ 125,000 200,000 Catering service revenue......... 65,000 Notes payable............ 17,000 Laura Bow, Capital ........ Laura Bow, Withdrawals ....... 18,000 1,500 Prepaid insurance........... 4,000 Salaries payable............... 97,000 Salary expense.............. 1,500 Supplies .................. 9,000 Supplies expense........... 7,000 Repair expense .......... Unearned catering service revenues..... 9,500 Utilities expense... 500