1. Prepare closing entries 2. Prepare post closing trial balance
Extracted text: Closing entries LO2, L 3, L4 Help Me SOLVE IT Problem 4-4B CHECK FIGURE: 2. Post-closing trial balance = $86,800 The adjusted trial balance for Dillan's Tailoring Services on December 31, 2020, appears as follows: No. Аccount Debit Credit 101 Cash.. $ 15,500 125 Store supplies... 6,500 128 Prepaid insurance. 3,800 167 Equipment... 61,000 168 Accumulated depreciation, equipment... $ 19,700 201 Accounts payable... 39,400 210 Wages payable. 6,400 301 Vy Dillan, capital. 23,300 302 Vy Dillan, withdrawals.. 32,000 401 Sewing revenue. 109,920 612 Depreciation expense, equipment.. 5,400 623 Wages expense... 61,200 637 Insurance expense. 2,200 640 Rent expense.. 4,800 651 Store supplies expense... 2,600 690 Utilities expense... 3,720 Totals.. . $198,720 $198,720 Required 1. Prepare closing entries. 2. Prepare a post-closing trial balance.