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The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year. No.

The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year.

No. Account Title Debit Credit
101 Cash $ 18,000
126 Supplies 14,500
128 Prepaid insurance 2,000
167 Equipment 23,000
168 Accumulated depreciationEquipment $ 6,500
301 T. Cruz, Capital 50,007
302 T. Cruz, Withdrawals 6,000
404 Services revenue 32,700
612 Depreciation expenseEquipment 2,000
622 Salaries expense 19,064
637 Insurance expense 1,373
640 Rent expense 2,191
652 Supplies expense 1,079
Totals $ 89,207 $ 89,207

1. Prepare the December 31, 2017, closing entries for Cruz Company. Assume the account number for Income Summary is 901. 2. Prepare the December 31, 2017, post-closing trial balance for Cruz Company.

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