ElecBooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Amounts in the list of accounts are rounded to the nearest thousand dollars. Assume the year ended on September 30, 2014.

Required
1. Prepare an adjusted trial balance at September 30, 2014. Is the Retained Earnings balance of $1,445,000 the amount that would be reported on the balance sheet as of September 30, 2014?
2. Prepare the closing entry required at September 30, 2014.
3. Prepare a post-closing trial balance at September 30, 2014?

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Accounts Payable Accounts Receivable Accrued Liabilities Accumulated Depreciation Cash Contributed Copital Depreciation Expense General and Administrative Expenses Income Tax Expense Interest Revenue Other Current Assets Other Lang-Lived Assets Other Operating Expenses Prepaid Expenses %24 461 197 94 2,142 1,445 2,605 6,369 476 2,166 546 175 $221 191 354 300 Property and Equipment Retained Eornings Selling Expenses Service Revenues Short-Term Bank Loan 307 151 340 357 302 Store Operating Expenses 92 Long-Term Debt 196 Supplies Unearned Revenue