Required:

1. Prepare the closing entries to be made on 30 June 2022.

2. Prepare the post-closing trial balance as at 30 June 2022.

Question 3 Credit FRED'S FISHING SUPPLIES Adjusted Trial Balance as at 30 June 2022 Account Debi t Cash at bank $20,400 Accounts receivable 25,200 Fishing Supplies 6,000 Prepaid Insurance 3,000 Boat 36,000 Accumulated depreciation boat Accounts Payable Salaries Payable Fred Thomas, Capital Fred Thomas, Drawings 14,400 Sales Revenue Salaries expense 10,300 Rent expense 4,800 Insurance Expense 1,200 Fishing supplies expense 2,700 Depreciation expense 4,200 $128,200 18,000 6,000 2,000 24,000 78,200 $128,200