The transactions of Aster Systems for October through December 2020 have been recorded in the
problem segments in Chapters 2 and 3, as well as the year-end adjusting entries. Prior to closing
the revenue and expense accounts for 2020, the accounting system is modified to include the
Income Summary account, which is given the number 901.
Required
1. Record and post the appropriate closing entries.
2. Prepare a post-closing trial balance.