Prepare Closing Entries and a Post Closing Trial Balance. You will need to fo this manually.

*******AUTOMATICALLY CALCULATES FOR YOU*********** TRIAL BALANCE MONTH ONE Account Name Debit Credit Cash 341,614.35 Accounts Receivable 500,000.00 Prepaid Rent 5,565.00 Prepaid Insurance 7,854.00 Supplies 200.00 Inventory 75,000.00 Land Vehicles 3,500.00 Furniture & Equipment 2,375.54 Buildings Accumulated Depreciation 500.00 Accounts Payable 250,000.00 Wages Payable 26,695.25 Utilities Payable Interest Payable 988.88 Unearned Revenue Other Payables Notes Payable 100,000.00 Common Stock 400,000.00 Retained Earnings Dividends 50,000.00 Sales Revenue 500,000.00 Service Revenue Cost of Goods Sold 225,000.00 Wages Expense 1 53,390.50 Rent Expense 11,130.00 Utilities Expense 351.86 Interest Expense 988.88 Insurance Expense 714.00 Depreciation Expense 500.00 Other Expense TOTAL 1,278,184.13 1,278,184.13 Credit 400,000.00 100,000.00 50,000.00 50,000.00 200.00 2,375.54 3,500.00 200,000.00 90,000.00 16,695.00 General Journal MONTH ONE actio Account Name Debit 1 Cash 400,000.00 1 Common Stock 2 Cash 100,000.00 2 Notes Payable 3 Inventory 100,000.00 3 Cash 3 Accounts Payable 4 Supplies 200.00 4 Cash 5 Furniture & Equipment 2.375.54 5 Cash 6 Vehicles 3,500.00 6 Cash 7 Accounts Receivable 200,000.00 7 Sales Revenue 7 Cost of Goods Sold 90,000.00 7 Inventory 8 Prepaid Rent 16,695.00 8 Cash 9 Utilities Expense 351.86 9 Cash 10 Wages Expense 26,695.25 10 | Cash 11 Interest Expense 494.44 11 Interest Payable 12 Inventory 200,000.00 12 Accounts Payable 13 Prepaid Insurance 8,568.00 13 Cash 14 Accounts Receivable 300,000.00 14 Sales Revenue 15Cost of Goods Sold 135,000.00 15 Inventory 16 Interest Expense T 4 94.44 16 Interest Payable 17 Depreciation Expense 500.00 17 Accumulated Depreciation 17 Wages Expense 26,695.25 17|Wages Payable 18 Insurance Expense 1 7 14.00 18 Prepaid Insurance 19 Rent Expense 11,130.00 19 Prepaid rent 20 Dividends 50,000.00 20 Cash 351.86 26,695.25 494.44 200,000.00 8,568.00 300,000.00 135,000.00 494.44 500.00 26,695.25 714.00 11,130.00 50,000.00