Question 1: Using the account information in the following adjusted trial balance for Lovepreet restaurant. (15-marks) 1- Prepare the closing entries for December 31, 2017 2- Post the closing entries. 3. Prepare the post closing trial balance at December 31, 2017 Lovepreet Restaurant Adjusted Trial Balance December 31, 2017 Debit Credit $ 7.000 3.000 31.000 $27.000 700 Cash Accounts receivable. Equipment (Ovens, furniture etc.) Accumulated Depreciation, equipment Salaries payable Lovepreet's, Capital Lovepreet's, withdrawals Food service Revenue Salaries expense ....... Depreciation expense Utilities expense 17,200 2.300 32.000 25.000 5.000 3.600 $76.000 Totals $76.900