The following adjusted trial balance contains the accounts and balances of Ferrara Company as of December 31, 2011, the end of its fiscal year.

(1) Prepare the December 31, 2011, closing entries for Ferrara Company.

(2) Prepare the December 31, 2011, post-closing trial balance for Ferrara Company.

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No. Account Titde Debit Credit $18,000 126 Supplies ....13,900 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment .. 307 Common stock .. 2,000 23,000 $ 6,500 18,168 30,000 319 Dividends 6,000 37,200 612 Depreciation expense-Equipment ······.. . 2,000 622 Salaries expense.... 637 Insurance expense 640 Rent expense.. 652 Supplies expense 1,227 21,687 1,562 2,492 $91,868 $91,868