Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title 101 Cash 126 128 167 168 307 318 319 403 612 622 637 640 652 Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Common stock Retained earnings Dividends Services revenue Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expense Totals Debit $ 18,000 12,600 2,000 23,000 Credit $ 6,500 12,297 34,600 37,100 6,000 2,000 21,629 1,558 2,486 1,224 $ 90,497 $ 90,497 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 $34,600 on December 31 of the prior year.

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 $34,600 on December 31 of the prior yeat