Closing Dividends and Preparing a Post-Closing Trial Balance Below is a listing of account balances taken from the adjusted ledger account balances of Jolley Manufacturing Corporation.

All revenues and expense accounts have been closed to Retained Earnings. Dividends has not yet been closed.
Prepare (1) the closing entry for Dividends and (2) a post-closing trial balance for December 31, 2009.

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Cash $ 16,400 Income Taxes Payable $ 7,000 Accounts Receivable 23,500 Mortgage Payable 82,500 Inventory 71,000 Notes Payable 23,000 Prepaid Advertising 4,000 Unearned Rent 4,200 Building 110,000 Capital Stock 80,000 Land 45,000 Dividends 14,800 Accounts Payable 24,000 Retained Earnings 56,000 Wages Payable 8,000