1. The End of the Accounting Cycle - the closing process (The return of Whiplash, Ltd.!): The adjusted trial balance for Whiplash, Ltd. as of 6/30/2020 is given below. Given this adjusted trial balance, complete the following: PART A-Record closing entries: Record all four closing journal entries Whiplash would make during the closing process on 6/30/2020 using the information in the adjusted trial balance given below. For revenue and expense accounts, don't forget to close to the 'Income Summary' account first before closing the net income/(loss) amount to Retained Earnings. PART B - Prepare a post-closing trial balance: After completing PART A, prepare a post-closing trial balance for Whiplash, Ltd. as of 6/30/2020 with the list of accounts in the following order: assets, liabilities, common stock, and retained earnings. Whiplash, Ltd. Adjusted Trial Balance As of 6/30/2020 Account: Cash A/R Prepaid Rent Investments Equipment Accumulated Depreciation A/P Wages Payable Utilities Payable Interest Payable Deferred Revenue Notes Payable Common Stock Retained Earnings Service Revenue Investment Revenue Rent Expense Utilities Expense Wages Expense Depreciation Expense Dividends TOTAL DEBIT: CREDIT: $ 18,995 $ 14,085 $ 8,750 $ 10,000 $ 25,000 $ 2,500 $ 11,420 $ 4,000 $ 200 $ 7,750 $ 1,050 $ 15,500 $ 8,000 $ 21,440 $ 41,010 $ 1,200 $ 3,250 $ 1,200 $ 30,000 $ 2,500 $ 290 $ 114,070 $ 114,070