Problem $6\mathrm{.}2$A $($Static$)$ Journalizing and posting adjusting and closing entries and preparing a postclosing trial balance. LO $6-1,6-2$ A completed worksheet for The Oxford Group is given below. THE OXFORD GROUPWorksheetMonth Ended December $31,20$X$1$Trial BalanceAdjustmentsAdjusted Trial BalanceIncome StatementBalance SheetAccount NameDebitCreditDebitCreditDebitCreditDebitCreditDebitCreditCash$45,20045,20045,200$Accounts receivable$8,0008,0008,000$Supplies$4,000($a$)1,7002,3002,300$Prepaid advertising$16,000($b$)2,00014,00014,000$Equipment$42,50042,50042,500$Accumulated depreciation$$Equipment$($c$)1,7001,7001,700$Accounts payable$6,5006,5006,500$Peter Oxford, Capital$71,00071,00071,000$Peter Oxford, Drawing$4,7004,7004,700$Fees income$51,75051,75051,750$Supplies expense$($a$)1,7001,7001,700$Advertising expense$($b$)2,0002,0002,000$Depreciation expense$$Equipment$($c$)1,7001,7001,700$Salaries expense$7,7007,7007,700$Utilities expense$1,1501,1501,150$Totals$129,250129,2505,4005,400130,950130,95014,25051,750116,70079,200$Net income$37,50037,50051,75051,750116,700116,700$ Required: Record the adjusting entries in the general journal $($transactions $1-3).$ Record the closing entries in the general journal $($transactions $4-7).$ Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Prepare a postclosing trial balance. How many accounts are listed in the adjusted and postclosing trial balance section?