Randy's Services provides general home repairs to customers. The company's fiscal year-end is December 31. The December 31, 2018, adjusted trial balance appears below. Adjusted Trial Balance Account Title Debit Credit Cash $18,100 Accounts Receivable 16,200 Supplies 3,000 Prepaid Insurance 3,750 Equipment 95,000 Accumulated Depreciation $40,800 Accounts Payable 10,500 Salaries Payable 4,200 Utilities Payable 1,900 Interest Payable 2,000 Notes Payable 40,000 Capital 34,500 Owner's Withdraw 2,500 Service Revenue 224,900 Salaries Expense 162,700 Depreciation Expense 13,600 Insurance Expense 11.250 Supplies Expense 17,400 Electricity expense 8,300 Water expense 5,000 Interest Expense 2.000 Total $358.800 $358.800 ACCT2003, Principles of Accounting L. Additional Assignment (Replacement of Test 2) Required: 1. Using the adjusted trial balance, prepare the closing entries (without explanations) (16 marks) 2. Explain what is post-closing trial balance and what is its purpose? (4 marks)