Exercise 4-8 Flint 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 Debit $9,850 8,500 15,800 Flint Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense $7,300 4,700 2,500 19,050 26,000 15,500 63,000 6,000 7,500 56,400 15,000 $128,550 $128,550 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 Service Revenue Rent Revenue Income Summary (To close revenue accounts) July 31 Income Summary Depreciation Expenses Salaries and Wages Expense Utilities Expense (To close expense accounts) July 31 Retained Earnings Income Summary (To close net income / (loss)) July 31 Retained Earnings Dividends (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 e.g. -45 or parentheses e.g. (45).) No. 320 Balance Date Explanation Retained Earnings Ref Debit J15 Credit July 31 July 31 215 July 31 215 No. 350 Balance Date Explanation Income Summary Ref 315 Debit Credit July 31 July 31 J15 July 31 J15 Prepare a post-closing trial balance at July 31. Flint Company Post-Closing Trial Balance Debit Credit Cash Accounts Receivable Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Totals