PROBLEM 4 IIIIIII DI IBIBIR LUI Presented below are the year-end balances at December 31 of Laura's Laundry Service. (All accounts have normal balances.) Accounts receivable ...... $ 12,000 Accounts payable ...... 25,000 Accumulated depreciation-Catering equipment 30,000 Advertising expense 4,000 Cash........... 42,000 Depreciation expense Catering equipment 12,000 Insurance expense ..... 3,000 Catering equipment... 125,000 Catering service revenue.. 200,000 Notes payable 65,000 Laura Bow, Capital ......... 17,000 Laura Bow, Withdrawals. 18,000 Prepaid insurance... 1,500 Salaries payable. 4,000 Salary expense 97,000 Supplies... 1,500 Supplies expense 9,000 Repair expense..... 7,000 Unearned catering service revenues. 500 Utilities expense........ 9,500 .......... .... at December 31. (a) (b) Prepare the necessary closing entries Prepare a post-closing trial balance at December 31