what is the post-closing trial balance

The trial balancs of Concord Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit CONCORD FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash S32.990 Accounts Receivable 36,920 Inventory 49,120 Supplies 8,620 Equipment 139.240 Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Ratained Earnings Sales Revenue Sales Returns and Allowances 4200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,940 Advertising Expense 27,460 Utilities Expenses 15.160 Maintenance and Repairs Expense 12.100 Delivery Expense 16,700 Rent Expense 25.060 Totals $1,000,600 $26.120 54120 51,620 93.120 11.120 764.500 $1,000,600 Adjustment data: 1. 2. 3. Supplies on hand totaled $4.620. Depreciation is $16.590 on the equipment Interest of $11.470 is accrued on notes payable at November 30. Other data: 1. 2. 3. Salaries expense is 70% se ing and 3096 administrative. Rent expense and utilities expenses are 80% selling and 2056 administrative $30,000 of notes payable are due for payment next year. Maintenance and repairs expense is 100% administrative. Journalize the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) Debit Credit 764500 Date Account Titles and Explanation Nov. 30 Sales Revenue Income Summary (To close accounts with credit balances.) Nov. Income Summary 764500 30 766980 Salarland Were De 198840 Interest Expense 11470 Rent Expense 25060 Ulla Expres 15160 Advertising Expense Delivery Expense 16700 Supplies Expense Deprecation Expense 16590 Maintenance and Repairs Expande Cost of Goods Sold 495400 Sales Retums and Allowances (To close accounts with debit balances.) Nov. 30 Retained Earnings 2480 2480 Income Summary (To close nat incoma/ (less).) X Your answer is incorrect. Prepare a post-closing trial balance CONCORD FASHION CENTER Post-Closing Trial Balance Debit Credit