Based on the following journal entries complete the following:

Closing Journal Entries Post-Closing Trial Balance

Journal entries:

Date	Account Titles	Debit	Credit
2016		$	$
June 1	Cash	300,000
	K.L. Paul, Capital		300,000
June 5	Prepaid Insurance	3,600
	Cash		3,600
June 7	Supplies	10,000
	Cash		10,000
June 8	Inventory	40,000
	Cash		40,000
June 12	Inventory	200,000
	Accounts Payable		200,000
June 15	Supplies	27,000
	Accounts Payable		27,000
June 17	Cash	26,000
	Sales		26,000
	Cost of Goods Sold ( 2,000 x $ 3.933)	8,000
	Inventory		8,000
June 19	Accounts Receivable	300,000
	Sales		300,000
	Cost of Goods Sold	80,000
	Inventory		80,000
June 20	Inventory	113,000
	Cash		113,000
June 20	Cash	375,000
	Sales		375,000
	Cost of Goods Sold	125,000
	Inventory		125,000
June 22	Sales Returns and Allowances	50,000
	Accounts Receivable		50,000
	Inventory	13,111
	Cost of Goods Sold		13,111
June 23	Accounts Payable	200,000
	Cash		200,000
June 23	Cash	72,000
	Inventory		72,000
June 24	Wages Expense	900
	Cash		900
June 25	Land	90,000
	K.L. Paul, Capital		90,000
June 30	Building	55,000
	Note Payable ( Long Term )		55,000
June 30	Utilities Expense	500
	Cash		500
June 30	K.L.Paul, Withdrawals	15,000
	Cash		15,000
June 30	Cash	291,000
	Sales Discounts	9,000
	Accounts Receivable		300,000