Exercise 4-9 (Algo) Preparing closing entries and a post-closing trial balance LO P2 Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 168 Equipment Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, Withdrawals 403 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals Debit $ 18,000 14,400 Credit 2,000 23,000 $ 6,500 47,075 6,000 43,000 2,000 25,069 1,806 2,881 1,419 $ 96,575 $ 96,575 1. Prepare the December 31 closing entries. The account number for Income Summary is 901. 2. Prepare the December 31 post-closing trial balance. Note: The A. Cruz, Capital account balance was $47,075 on Decembe the prior year. Complete this questions by entering your answers in the tabs below. Required 1 Required 21 Prepare the December 31 closing entries. The account number for Income Summary is 901. View transaction list View journal entry worksheet Record the entry to close revenue accounts. Record the entry to close expense accounts. Record the entry to close income summary account. ' Record the entry to close the withdrawals account. Note: journal entry has been entered A. Gruz, WIDOW Debit Credit 43,000 43,000 Required 1 Required 2 > 2,000 25,069 1,806 2,881 1,419 Complete this questions by entering your answers in the tabs below. Required 1 Required 2 Prepare the December 31 post-closing trial balance. Note: The A. Cruz, Capital account balance was $47,075 on December 31 of the prior year. ces Cash Supplies Prepaid insurance Equipment CRUZ COMPANY Post-Closing Trial Balance December 31 Debit Credit $ 18,000 14,400 2,000 23,000 $ 6,500 Accumulated depreciation-Equipment A. Cruz, Capital Totals $ 57,400 $ 6,500