MY Autobodys adjusted trial balance on December 31, 2023, appears in the work sheet as follows:

No. Account Debit Credit

101 Cash $ 28,100

124 Shop supplies 1,850

128 Prepaid insurance 4,300

167 Equipment 88,500

168 Accumulated depreciation, equipment $ 7,600

201 Accounts payable 19,100

210 Wages payable 8,960

301 Mike Yang, capital 141,000

302 Mike Yang, withdrawals 36,500

401 Repair revenue 158,530

612 Depreciation expense, equipment 8,600

623 Wages expense 104,600

637 Insurance expense 1,950

640 Rent expense 52,850

650 Office supplies expense 4,900

690 Utilities expense 3,040

Totals $ 335,190 $ 335,190

Required

1. Prepare closing entries.

2. Prepare the post-closing trial balance at December 31, 2023.