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

No.	Account		Debit			Credit
101	Cash	$	28,500
124	Shop supplies		2,050
128	Prepaid insurance		4,700
167	Equipment		90,500
168	Accumulated depreciation, equipment				$	8,000
201	Accounts payable					19,500
210	Wages payable					9,360
301	Mike Yang, capital					145,000
302	Mike Yang, withdrawals		38,500
401	Repair revenue					162,130
612	Depreciation expense, equipment		9,000
623	Wages expense		105,000
637	Insurance expense		2,150
640	Rent expense		54,850
650	Office supplies expense		5,300
690	Utilities expense		3,440
	Totals	$	343,990		$	343,990

Required 1. Prepare closing entries.

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