The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31.

Number	Account Title	Debit	Credit
101	Cash	$ 18,000
126	Supplies	8,400
128	Prepaid insurance	2,000
167	Equipment	23,000
168	Accumulated depreciationEquipment		$ 6,500
307	Common stock		547
318	Retained earnings		41,600
319	Dividends	6,000
404	Services revenue		39,100
612	Depreciation expenseEquipment	2,000
622	Salaries expense	22,795
637	Insurance expense	1,642
640	Rent expense	2,620
652	Supplies expense	1,290
	Totals	$ 87,747	$ 87,747

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: The Retained Earnings account balance was $41,600 on December 31 of the prior year.