Paradise Travel's adjusted trial balance as of the end of its annual accounting period is shown below:

(a) Prepare the necessary closing entries. (b) Prepare a post-closing trial balance.

Paradise Travel

Adjusted Trial Balance

December 31

	Debit.	Credit
Cash	$ 25,000
Accounts receivable	15,000
Office supplies	4,300
Office equipment	29,600
Accumulated depreciationOffice equipment		$5,000
Long-term notes payable		25,000
D. Chambers, Capital		30,260
D. Chambers, Withdrawals	1,000
Fees earned		75,000
Salaries expense	32,800
Rent expense	16,800
Depreciation expenseOffice equipment	3,960
Advertising expense	4,000
Office supplies expense	2,800
Totals	$135,260	$135,260