Timber Creek prepared the following adjusted trial balance on December 31, 20X3. The company has completed preparation of financial statements and is now ready to prepare closing entries.
	TIMBER CREEK
	Adjusted Trial Balance
	As of December 31, 20X3
			Debits		Credits
		Cash	$ 35,600		$ -
		Accounts receivable	23,700		-
		Supplies	7,500		-
		Equipment	325,700		-
		Accumulated depreciation	-		40,400
		Accounts payable	-		34,800
		Loan payable	-		100,000
		Capital stock	-		80,000
		Retained earnings	-		70,000
		Dividends	20,000		-
		Revenues	-		478,400
		Rent expense	120,000		-
		Salaries expense	235,600		-
		Supplies expense	18,000		-
		Interest expense	7,400		-
		Depreciation expense	10,100		-
			$ 803,600		$ 803,600
(a) Prepare the necessary closing entries.
(b) Use T-accounts to determine the post-closing balances of the accounts.
(c) Prepare the post-closing trial balance.