Additional Information: The NSF cheque was received in January from United Corporation for a sale dated January 15. - It is estimated that utilities used during February totalled $16,575. - Actual count of ending merchandise inventory on February 29, 2024 was $1,564,711. Greater than 61 days past due (60%). Since this is an estimate please round your final answer to the nearest whole dollar. - Income taxes are estimated to be $214,100. c) What is the next step in the accounting cycle? Prepare closing entries This is the last step Post transactions Prepare an unadjusted trial balance Prepare a post-closing trial balance Prepare financial statements Post closing entries Post adjusting entries Prepare an adjusted trial balance Analyze and journalize transactions