The Ombudsman Foundation is a private not-for-profit organization providing training in dispute resolution and conflict management. The Foundation had the following preclosing trial balance at December 31,2020 , the end of its fiscal year: Prepare closing entries for the year-end, using separate entries for each net asset classification. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) As of December 31, 2020 Current Assets: Cash Short-term Investments Supplies Inventories Receivables: Current Liabilities