For part 1, record the journal entry to close the following accounts: revenue account, expense account, income summary, dividends account.

Part 2 is as it says in the picture.

Exercise 3-20 (Algo) Preparing closing entries and a post-closing trial balance LO P6 Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title Debit Credit 101 Cash $ 18,000 126 Supplies 11,100 128 Prepaid insurance 2,000 167 Equipment 23,000 168 Accumulated depreciation-Equipment $ 6,500 307 Common stock 7,589 318 Retained earnings 36,600 319 Dividends 6,000 403 Services revenue 41,500 612 Depreciation expense-Equipment 2,000 522 Salaries expense 24,195 637 Insurance expense 1,743 640 Rent expense 2, 781 652 Supplies expense 1.370 Totals $ 92,189 $ 92,189 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 Retained Earnings account balance was $36,600 on December 31 of the prior year