The December 31, 2024, adjusted trial balance for Coyote Corporation is presented below. Accounts Debit Credit Cash $18,000 Accounts Receivable 180,000 Prepaid Rent 6,000 Supplies 36,000 Land 295,000 Accounts Payable $18,000 Salaries Payable 17,000 Interest Payable 5,000 Notes Payable (due in two years) 46,000 Common Stock 330,000 Retained Earnings 72,000 Service Revenue 530,000 Salaries Expense 406,000 Rent Expense 26,000 Utilities Expense 46,000 Interest Expense 5,000 Totals $1,018,000 $1,018,000 Required: 1.

1. Record the necessary closing entries at December 31, 2024. 2.

2. Prepare a post-closing trial balance.