4: Closing Entries (15 marks) Tom is a sole proprietor of 'Hardy Ways', and he is a good friend of yours. Tom has contacted you asking about how to close off the accounts since you are working as a graduate accountant at Archie & Co. Accounting Solutions Pty Ltd. You approached your managing partner regarding this and she is happy for you to help Tom close off the accounts. Tom has sent the following Trial Balance to you. Hardy Ways (Pre-Closing) Trial Balance. 30 June 2022 Debit ($) Credit ($) Cash at Bank 89,750 Salaries Payable 6,590 Supplies 15,890 Drawings 12,560 Services Revenue 258,450 Accumulated Depreciation - Van 41,400 Insurance Expense 3,560 Depreciation Expense 8,560 Prepaid Insurance 2,350 Rent Expense 25,800 Unearned Revenue Interest Payable 18,950 5,690 Supplies Expense Van Interest Expense Accounts Payable Salaries Expense 158,900 Capital 71,670 Accounts Receivable 57,960 Mortgage Payable 48,950 Total 465,500 465,500 5,890 82,800 1,480 13,800 REQUIRED You are required to prepare the following: (i) closing entries based on the Trial Balance provided by Tom, and (ii) a post-closing Trial Balance as at 30 June 2022. (8 marks) (7 marks)