Journal Entries Post-closing Trial Balance Credit 0 0 $ 0 0 0 0 0 MAYFLOWER MOVING SERVICE Post-Closing Trial Balance December 31, 2018 Debit Cash $ Account Receivable Supplies Prepaid Advertising Trucks Accumulated Depreciation-Trucks Equipment Accumulated Depreciation-Equipment Accounts Payable Service Contract Liabilities Common Stock Retained Earnings Totals $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 0 Preparing Closing Entries The following adjusted trial balance is for Mayflower Moving Service at December 31, 2018. MAYFLOWER MOVING SERVICE Adjusted Trial Balance December 31, 2018 Debit Credit Cash $3,800 Accounts Receivable 5,250 Supplies 2,300 Prepaid Advertising 3,000 Trucks 28,300 Accumulated Depreciation-Trucks $10,000 Equipment 7,600 Accumulated Depreciation-Equipment 2,100 Accounts Payable 1,200 Service Contract Liabilities 2,700 Common Stock 5,000 Retained Earnings 15,550 Service Fees Revenue 72,500 Wages Expense 29,800 Rent Expense 10,200 Insurance Expense 2,900 Supplies Expense 5,100 Advertising Expense 6,000 Depreciation Expense-Trucks 4,000 Depreciation Expense-Equipment 800 Totals $109,050 $109,050 (a) Prepare closing entries in journal entry form. (b) After its closing entries are posted, what is the post-closing balance for the Retained Earnings account? (c) Prepare Mayflower's post-closing trial balance. Journal Entries Post-closing Trial Balance General Journal Description Debit Credit Date 2018 Dec 31 0 $ 0 0 0 To close the revenue account. 31 0 0 0 0 0 0 0 0 0 0 Wages Expense Rent Expense Insurance Expense Supplies Expense Advertising Expense Depreciation Expense Trucks Depreciation Expense-Equipment To close the expense accounts. 0 0 0 0 0 0