The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $19,000 13,000 3,000 24,000 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals $ 7,500 10,000 37,600 7,000 44,000 es 3.000 22.000 2,500 3.400 2,200 $ 99, 100 $99, 100 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 $37,600 on December 31 of the prior year. Record the entry to close revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record the entry to close expense accounts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record the entry to close income summary account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record the entry to close the dividends account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Prepare the December 31, post-closing trial balance for Cruz Company. Note: The Retained Earnings account balance was $37,600 on December 31 of the prior year. CRUZ COMPANY Post-Closing Trial Balance December 31 Debit Credit Totals