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

No.	Account		Debit			Credit
101	Cash	$	27,800
124	Shop supplies		1,700
128	Prepaid insurance		4,000
167	Equipment		87,000
168	Accumulated depreciation, equipment				$	7,300
201	Accounts payable					18,800
210	Wages payable					8,660
301	Mike Yang, capital					138,000
302	Mike Yang, withdrawals		35,000
401	Repair revenue					155,830
612	Depreciation expense, equipment		8,300
623	Wages expense		104,300
637	Insurance expense		1,800
640	Rent expense		51,350
650	Office supplies expense		4,600
690	Utilities expense		2,740
	Totals	$	328,590		$	328,590

Required 1. Prepare closing entries.

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