You have been called upon to help Sarah Singer with her newly established graphic design business. Singer has decided to lease a rented office space and is planning to operate the new business on a full-time basis. The business is known as Sarah's Designs, Inc. Singer's company had the following business transactions during the first month of operation in September 20XX:

Sept 1. To launch the new business, the following assets were initially contributed by Sarah Singer in exchange for common stock: Cash, $25,800; Accounts Receivable, $4,500; Supplies, $2,500; and Office Equipment, $16,500.

Sept 1. Paid three months' rent in advance on a new lease rental contract, $3,600.

Sept 2. Paid the premiums on property and casualty insurance policies, $1,800. (This total insurance policy premium covers six months)

Sept 4. Received cash from the Gaines Company (a new client) as an advance payment for services to be provided, and the amount will be recorded as Unearned Revenue for $4,200.

Sept 5. Purchased a new computer on account from Brown's Computer Nook for $3,600. The useful life of the computer has been estimated to be 5 years.

Sept 6. Received cash from clients for services performed on account for $2,600.

Sept 9. Paid cash to the Mason Tribune for a newspaper advertisement, $240.

Sept 12. Recorded services provided on account for various clients for the period of September 1 - 12, for $5,700.

Sept 13. Paid Brown's Computer Nook for part of the liability incurred earlier (back on Sept 5), $690.

Sept 14. Paid part-time receptionist for two weeks' salary, $1,100.

Sept 17. Paid cash for supplies, $1,000.

Sept 20. Purchased additional office equipment on account from Cabrillo Office Supply store for $2,650.

Sept 20. Recorded services provided on account for various clients for the period of September 13 - 20, $4,360.

Sept 24. Received cash from clients for fees earned during the period of September 17 - 24 (not on account), $6,100.

Sept 26. Received cash from clients on account from September 12 services, $2,200.

Sept 28. Paid part-time receptionist for two weeks' salary, $1,100.

Sept 29. Paid telephone bill for September, $370.

Sept 29. Paid electricity bill for September, $515.

Sept 30. Recorded cash from clients for fees earned for the period of September 25 - 30 (not on account), $3,450.

Sept 30. Recorded services provided on account for the remainder of September, $2,100.

Sept 30. Paid dividends of $2,500.

Adjustment data for Sarah's Designs, Inc., as of September 30, 20XX:

Prepaid Insurance expired during September is $300.

Supplies on hand on September 30 have a total value of $2,130.

Monthly depreciation of office equipment is $320.

Monthly depreciation of computer is $60.

Prepaid Rent expired during September is $1,200.

Accrued receptionist salary on September 30 is $200.

Unearned Revenue balance on Sept 30 amounts to $3,600.

Record the closing entries.

Post the closing entries to the general ledger.

Prepare the post-closing trial balance.