Question 2. Sauk SHPK ended its fiscal year on December 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is as follows (80 points) Credit Sauk SHPK Adjusted Trial Balance December 31, 2019 Account Titles Debit Cash 59,000 Accounts Receivable 15,000 Buildings 30,000 Accumulated Depreciation-Build. Accounts Payable Salaries Payable Share Capital-Ordinary Retained Earnings Dividends 6.000 Service Revenue $ 8,000 4,000 2.000 15,000 20,000 50,000 Sauk SHPK Adjusted Trial Balance December 31, 2019 Account Titles Debit Credit 10,000 Rent Revenue Depreciation Expense Salaries and Wages Expense Advertising Expense 9,000 40,000 10,000 $ 119,000 $ 119,000 Required a. Prepare the closing entries. (60 points) c. Prepare a post-closing trial balance at July 31 and explain in your words how you prepared it (20 points) Solution GENERAL JOURNAL DATE ACCOUNT TITLES DEBIT CREDIT Dec 31 Dec 31 Dec 31 Dec 31 Sauk SHPK Post Closing Trial Balance December 31, 2019 Account Titles Debit Credit