The closing process Timber Creek prepared the following adjusted trial balance on December 31, 2013. The company has com pleted preparation of financial statements and is now ready to prepare closing entries. TIMBER CREEK Adjusted Trial Balance As of December 31, 20x3 Cash Accounts receivable Supplies Debits $ 35,600 Credits 23,700 7,500 Equipment Accumulated depreciation Accounts payable 325,700 $ 40,400 34,800 Loan payable 100,000 Capital stock 80,000 Retained earnings 70,000 Dividends 20,000 Revenues 478,400 Rent expense 120,000 Salaries expense 235,600 Supplies expense 18,000 Interest expense 7,400 Depreciation expense 10,100 $803,600 $803,600 (a) Prepare the necessary closing entries. (b) Use T-accounts to determine the post-closing balances of the accounts. (c) Prepare the post-closing trial balance. 8-04.05