Preparing closing entries and a post-closing trial balance The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2008, the end of its fiscal year. (1) Prepare the December 31, 2008, closing entries for Cruz Company.
(2) Prepare the December 31, 2008, post-closing trial balance for Cruz Company.

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No. 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 T. Cruz, Capital Account Title Debit Credit $19,000 13,000 3,000 24.000 $ 7,500 47,600 302 T. Cruz, Withdrawals 7,000 404 Services revenue. 44,000 612 Depreciation expense-Equipment 3,000 622 Salaries expense 22,000 637 Insurance expense. 2,500 640 Rent expense 3,400 652 Supplies expense 2,200 Totals $99,100 $99,100