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Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following adjusted trial balance contains the accounts and balances of Cruz

Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3

The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year.

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Account Title Debit Credit No 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 T. Cruz, Capital 302 T. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 63/ Insurance expense 640 Rent expense 652 Supplies expense $19,000 13,000 3,000 24,000 7,500 47,600 7,000 44,000 3,000 22,000 2,500 3,400 2,200 Totals $99,100 $99,100 1. Prepare the December 31, 2017, closing entries for Cruz Company. Assume the account number for Income Summary is 901 2. Prepare the December 31, 2017, post-closing trial balance for Cruz Company

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