Ayayai Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit No. 101 Debit $8,000 8,500 15,500 112 157 158 201 208 311 320 332 400 429 711 726 732 Ayayal Company Adjusted Trial Balance July 31, 2019 Account Titles Cash Accounts Receivable Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Depreciation Expense Salaries and Wages Expense Utilities Expense $7,000 4,000 1,500 17.700 25,000 15,500 63,000 6,000 6,500 55,700 14,500 $ 124,200 $124,200 Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 (To close revenue accounts) July 31 (To close expense accounts) July 31 (To close net income / (loss)) July 31 (To close dividends) Post to the Retained Earnings and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part. Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) Retained Earnings Ref Debit No. 320 Balance Credit J15 Date Explanation July 31 July Close Revenues 31 Close Expenses July Close Dividends 31 Close Net Income/Loss Balance 115 J15 Date Explanation July Income Summary Ref Debit No. 350 Balance Credit J15 31 315 Ayayal Company Post-Closing Trial Balance For the Month Ended July 31, 2019 Debit Credit $ Totals $ $ TA