The following is the adjusted trail balance for ABC Company for the period ended December 31, 2019: Accounts Names Cash Supplies Prepaid insurance Equipment Accumulated depreciation-equipment Account payable Unearned service revenue Owner's capital Owner's drawings Service revenue Interest revenue Depreciation expense Salaries expense Rent expense Supplies expense Debit Credit $ 30,000 8,000 12,000 100,000 $ 40,000 12,000 6,000 80,000 8,000 120,000 4,000 10.000 60,000 20,000 14,000 S 262,000 $262,000 Instructions: 1. Prepare the closing entries at December 31, 2019. 2. Prepare the trail balance after closing