E 7 December 31, 2018 Debit Credit Cash $ 7,000.00 0 Accounts Receivable $ 5,000.00 1 Allowance for Doubtful Accounts $ 1,000.00 2 Supplies $ 1,750.00 3 Inventory $ 12,000.00 4 Prepaid Insurance $ 2,000.00 5 Prepaid Rent $ 4,000.00 6 Equipment $ 9,000.00 7 Accumulated Depreciation - Equipment $ 2,500.00 3 Cars $ 21,000.00 9 Accumulated Depreciation - Cars $ 9,000.00 Accounts Payable $ 1,000.00 1 Unearned Service Revenue $ 900.00 2 Common Stock $ 2,500.00 3 Retained Earnings $ 13,000.00 4 Dividends $ 1,000.00 5 Sales Revenue $ 22,200.00 6 Service Revenue $ 28,000.00 7 Salaries Expense $ 6,000.00 3 Utility Expense $ 2,000.00 9 Insurance Expense $ 1,000.00 Office Expense $ 600.00 Rent Expense $ 3,000.00 2 Advertising Expense $ 500.00 3 Depreciation Expense $ 500.00 4 Supplies Expense $ 3,500.00 5 Bad Debt Expense $ 200.00 6 Miscellaneous Expense $ 50.00 7 Total $ 80,100.00 $ 80,100.00 8 Requirement Closing Entries The General Ledger Post-Closing Trial Balance Required: Prepare the following to enter into January 2019. 1.00 Close the revenue account. 2.00 Close the expense accounts. 3.00 Close income Summary 4.00 Close the dividend account. 5.00 Post the transactions to the General Ledger. 6.00 Calculate the Ending Retained Earnings Balance. 7.00 Prepare the Post-Closing Trial Balance. Account Dr Cr Date December Sales Revenues 22,200.00 Service Revenues 28,000.00 Salary Expense 6,000.00 Utility Expense 2,000.00 Insurance Expense 1,000.00 Office Expense 600.00 22,200.00 28,000.00 Rent Expense 3,000.00 Advertising Expense 500.00 Depreciation Expense 500.00 Supplies Expense 3,500.00 Bad Debt Expense 200.00 Miscellanoues Expense 50.00 Income Summary Dividends 1,000.00 Retained Earnings 13,000.00 13,000.00 Watermelon Post-Closing Trial Balance December 31, 2018 Debit Credit Total