ElecBooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debitor credit balances. Amounts in the list of accounts are rounded to the nearest dollar. Assume the year ended on September 30, 2020, Accounts Payable Accounts Receivable Accrued Liabilities Accumulated Depreciation Cash Contributed Capital Depreciation Expense General and Administrative Expenses Income Tax Expense Interest Revenue Long-Term Debt Other Current Assets Other Long-Lived Assets Other Operating Expenses Prepaid Expenses Property and Equipnent Retained Earnings Selling Expenses Service Revenues Short-Tern Bank Loan Store Operating Expenses Supplies Deferred Revenue 5257 203 366 312 319 163 352 369 314 104 208 83 497 209 106 2,178 1,481 2,641 6,489 488 2,202 582 187 ELECBOOKS CORPORATION Adjusted Trial Balance At September 30, 2020 Account Titles Debit Credit $ 257 203 366 312 319 163 352 369 314 104 208 83 Accounts payable Accounts receivable Accrued liabilities Accumulated depreciation Cash Contributed capital Depreciation expense General and administrative expenses Income tax expense Interest revenue Long-term Debt Other current assets Other long-lived assets Other operating expenses Prepaid expenses Property and equipment Retained earnings Selling expenses Service revenues Short-term bank loan Store operating expenses Supplies Deferred revenue Totals 497 209 106 2,178 1,481 2,641 6,489 488 2,202 582 187 10,055 $ 10,055 $ 1-6. Is the Retained Earnings balance of $1,481 the amount that would be reported on the balance sheet as of September 30, 2020? Yes No 2. Prepare the closing entry required at September 30, 2020. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet > Record the closing entry at Sep 30,2020. Note: Enter debits before credits General Journal Dobit Credit Date September 30.2020 Record entry Clear entry View general Journal 3. Prepare a post-closing trial balance at September 30, 2020. ELECBOOKS CORPORATION Post-Closing Trial Balance At September 30, 2020 Account Titles Debit Credit Totals