The year$-$end financial statements of Python Tax Services are provided below.PYTHORT TAX SERVICES Income StatementPYTHORT TAX SERVICES Statement of Stockholders' EquityCommon StockRetained EarningsTotal Stockholders' EquityPYTHORT TAX SERVICES Balance Sheet Required: $1.$ Record year$-$end closing entries. $2.$ Prepare a post$-$closing trial balance. $($Hint$.$ The balance of Retained Earnings will be the amount shown in the balance sheet.$)1.$ Record year$-$end closing entries.

$2.$ Prepare a post$-$closing trial balance. $($Hint$.$ The balance of Retained Earnings will be the amount shown in the balance sheet.$)$

Complete this question by entering your answers in the tabs below.

Record year$-$end closing entries.

Note: If no entry is required for a particular transaction or event, select $"$No Journal Entry Required" in the first account field.

Journal entry worksheet

$1$

$3$

Record the entry to close the revenue accounts.

Note: Enter debits before credits. $1.$ Record year$-$end closing entries.

$2.$ Prepare a post$-$closing trial balance. $($Hint$.$ The balance of Retained Earnings will be the amount shown in the balance sheet.$)$

Complete this question by entering your answers in the tabs below.

Prepare a post$-$closing trial balance. $($Hint: The balance of Retained Earnings will be the amount shown in the balance sheet.$)$ Answer is not complete.

Complete this question by entering your answers in the tabs below.

Record year$-$end closing entries.

Note: If no entry is required for a particular transaction or event, select $"$No Journal Entry Required" in the first account field.

$\backslash$begin$\{$tabular$\}\{|$l$|$l$|$l$|$l$|$l$|\}$

$\backslash$hline No & Date & General Journal & Debit & Credit $\backslash \backslash$

$\backslash$hline $1$ & December $31$ & Service Revenue & $75,000$ & $\backslash \backslash$

$\backslash$hline & & Retained Earnings & & $75,000\backslash \backslash$

$\backslash$hline & & & & $\backslash \backslash$

$\backslash$hline $2$ & December $31$ & Insurance Expense & & $\backslash$$ $5,300\backslash \backslash$

$\backslash$hline & & Utilities Expense & & $7,700\backslash \backslash$

$\backslash$hline & & Supplies Expense & & $1,850\backslash \backslash$

$\backslash$hline & & Salaries Expense & & $45,500\backslash \backslash$

$\backslash$hline & & & & $\backslash \backslash$

$\backslash$hline $3$ & December $31$ & Retained Earnings & $5,500$ & $\backslash \backslash$

$\backslash$hline & & Dividends & & $5,500\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$