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  3. the following adjusted trial balance contains the

The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as...

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Accounting

The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31.(1) Prepare the December 31 closing entries for Cruz Company. Assume the account number for Retained Earnings is 901.(2) Prepare the December, 31, post-closing trial balance for Cruz Company.
Note: The Retained Earnings account balance was $37,600 on December 31 of the prior year.
\table[[No.,\table[[Cruz Company],[Adjusted Trial Balance],[December 31],[Account Title]],,Debit,,Credit],[101,Cash,$,19,000,,],[12,Supplies,,13,000,,],[628,Prepaid insurance,,3,000,,],[167,Equipment,,24,000,,],[168,Accumulated depreciation - Equipment,,,$,7,500],[307,Common stock,,,,10,000],[318,Retained earnings,,,,37,600],[319,Dividends,,7,000,,],[404,Services revenue,,,,44,000],[612,Depreciation expense - Equipment,,3,000,,],[622,Salaries expense,,22,000,,],[637,Insurance expense,,2,500,,],[640,Rent expense,,3,400,,],[652,Supplies expense,,2,200,,],[901,Income,,,,],[Strtarsary,$,99,100,$,99.100]]
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