Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 168 307 318 Retained earnings 319 Dividends 403 Services revenue 612 Depreciation expense-Equipment 622 637 640 652 Equipment Accumulated depreciation-Equipment Common stock Salaries expense Insurance expense Rent expense Supplies expense Totals Debit $ 19,000 13,000 3,000 24,000 7,000 3,000 22,000 2,500 3,400 2,200 $ 99, 100 Credit $ 7,500 10,000 37,600 44,000 $ 99, 100 1. Prepare the December 31 closing entries. The account number for Income Summary is 901. 2. Prepare the December 31 post-closing trial balance. Note: The Retained Earnings account balance was $37,600 on

Following are accounts and year-end adjusted balances of Cruz Company as of December 31 . 1. Prepare the December 31 closing entries. The account number for Income Summary is 901. 2. Prepare the December 31 post-closing trial balance. Note. The Retained Earnings account balance was $37,600 on