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, 2017.

Required: 

1. Prepare an adjusted trial balance at September 30, 2017. Is the Retained Earnings balance of $1,445,000 the amount that would be reported on the balance sheet as of September 30, 2017? 

2. Prepare the closing entry required at September 30, 2017. 

3. Prepare a post-closing trial balance at September 30, 2017

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Accounts Payable $ 221 Other Current Assets $ 71 Accounts Receivable 191 Other Long-Lived Assets Other Operating Expenses Prepaid Expenses Property and Equipment Retained Earnings Selling Expenses 461 Accrued Liabilities 354 197 Accumulated Depreciation 300 94 Cash 307 2,142 1,445 Contributed Capital Depreciation Expense General and Administrative Expenses 151 340 2,605 6,369 357 Service Revenues Income Tax Expense Interest Revenue 302 Short-Term Bank Loan 476 Store Operating Expenses Supplies 92 2,166 Long-Term Debt 196 546 Deferred Revenue 175