The following adjusted trial balance contains the accounts and year-end balances of Cruz Company (a sole proprietorship) as of December 31. Notes: - Prepare the closing entries in the logical order we studied. - The accounts in the post-closing trial balance should be in the same order as in the adjusted trial balance. Credit Debit $18,000 11,800 2,000 23,000 $ 6,500 45,989 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 37,500 2,000 21,863 1,575 2,513 1,238 $89,989 $ 89,989 1. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. 2. Prepare the December 31, post-closing trial balance for Cruz Company. Note: A. Cruz, Capital was $45,989 on December 31 of the prior year