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Exercise 3-20 (Algo) Preparing closing entries and a post-closing trial balance LO P6 Following are accounts and year-end adjusted balances of Cruz Company as of December 31 Number Account Title 101 Cash 126 128 167 168 307 318 319 403 612 622 637 640 652 Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Common stock Retained earnings Dividends Services revenue Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expense Totals Required 1 Required 2 1. Prepare the December 31 closing entries. The account number for Income Summary is 901. 2. Prepare the December 31 post-closing trial balance. Note: The Retained Earnings account balance was $33,600 on December 31 of the prior year View transaction list Complete this questions by entering your answers in the tabs below. Journal entry worksheet 1 Prepare the December 31 closing entries. The account number for Income Summary is 901. 2 Record the entry to close revenue accounts. Date December 31 3 Note: Enter debits before credits. Record entry Debit $ 18,000 14,500 2,000 23,000 General Journal Credit Clear entry $ 6,500 14,510 33,600 39,600 6,000 2,000 23,087 1,663 2,653 1,307 $ 94,210 $ 94,210 Debit Credit View general journal >

Exercise 3-20 (Algo) Preparing closing entries and a post-closing trial balance LO P6 Following are accounts ond year-end adjusted belances of Cruz Comparny as of December 3t 1. Prepare the December 3 closing entries. The account number for income Sumnary is 901 2 Prepare the December 31 post closing trial balance. Note. The Retained Earnings account balance was $33,600 on December 34 of the prior year Complete this questions by entering your answers in the tabs below. Prepare the Decomber at dosing entries. The account number for Income Sumurary is 901 Journal entry worksheet 2.34 Record the entry to dose revenue accounts

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