Exercise 2: Based on the adjusted trial balance shown below: Focus Package Delivery Adjusted Trial Balance December 31 Debit Credit Cash 18,200 Accounts receivable 34,200 Supplies 2,100 Long-term investments 25,000 Delivery equipment 45,000 Accumulated depreciation - Delivery equipment 11,080 Intangible assets 16,000 Accounts payable 16,200 Wages payable 4,120 Long-term notes payable 20,000 K. Eerman. Capital 40,400 K. Ferman. Withdrawals Delivery fees earned Rent expense 15,000 145,000 8,000 Wages expense 62,000 Supplies expense 2,500 Depreciation expense - Delivery equipment 4,050 Interest expense 1,000 Utilities expense 3,750 Totals 236,800 236,800 Required: 1. Prepare closing entries. Date 1 2 3. 4 Account Title Ref. Debit Credit 2. Complete T-Account. Income summary K. Eerman, Capital 3. Prepare post-closing trial balance as of December 31. Focus Package Delivery Post-Closing Trial Balance December 31 Debit Credit