MY Autobody’s adjusted trial balance on December 31, 2020, appears in the work sheet as follows:  
 

No.	Account		Debit			Credit
101	Cash	$	27,400
124	Shop supplies		1,500
128	Prepaid insurance		3,600
167	Equipment		85,000
168	Accumulated depreciation, equipment				$	6,900
201	Accounts payable					18,400
210	Wages payable					8,260
301	Mike Yang, capital					134,000
302	Mike Yang, withdrawals		33,000
401	Repair revenue					152,230
612	Depreciation expense, equipment		7,900
623	Wages expense		103,900
637	Insurance expense		1,600
640	Rent expense		49,350
650	Office supplies expense		4,200
690	Utilities expense		2,340
	Totals	$	319,790		$	319,790

Required
1. Prepare closing entries.

2. Prepare the post-closing trial balance at December 31, 2020.