MY Auto body€™s adjusted trial balance on December 31, 2017, appears in the work sheet as follows:

Required
1. Prepare closing entries. 

2. Prepare the post-closing trial balance at December 31, 2017.

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No. Account Debit Credit $ 28,000 101 Cash... 124 Shop supplies... Prepaid insurance 1,800 128 4,200 167 Equipment.. Accumulated depreciation, equipment 88,000 $ 7,500 168 Accounts payable... 19,000 201 Wages payable.. Mike Yang, capital... Mike Yang, withdrawals Repair revenue.. . 8,860 210 301 140,000 302 36,000 401 157,630 8,500 612 Depreciation expense, equipment 623 Wages expense 104,500 1,900 637 Insurance expense ... 640 Rent expense .... 52,350 Office supplies expense 650 4,800 Utilities expense . 2,940 690 Totals. . $332,990 $332,990