Cash 174,500 Accounts receivable 141,500 Supplies 4,650 Prepaid insurance 2,200 Equipment 85,800 Accumulated depreciation-Equipment 3,700 Accounts payable 67,000 Common stock 240,000 Retained earnings 120,000 Dividends 66,000 Service revenue 230,731 Advertising expense 2,500 Depreciation expense-Equipment 3,700 Insurance expense 1,200 Rent expense 9,600 Salaries expense 165,000 Supplies expense 1,405 Utilities expense 3,376 a) Prepare closing entries. Date Description 661,431 661,431 Debit Credit b) Prepare a post-closing Trial Balance Rae Services, Inc. Post-closing Trial Balance December 31, 2012 Accounts Total Debits Credits