Presented below are the year-end balances at December 31 of Becca's Dry Cleaning Service, Inc. (All accounts have normal balances.) 
(a) Prepare the necessary closing entries at December 31.
(b) Prepare a post-closing trial balance at December 31.
Definitions:
Maturity Risk
The risk that arises from the uncertain future value of investments that have a fixed earnings rate and a fixed maturity date.
Inflation Adjustment
A modification made to financial statements or figures to account for the effects of inflation.
Inflation Rates
The rate at which the general level of prices for goods and services is rising, leading to a decrease in the purchasing power of money.
Interest Rate
The percentage of a sum of money charged for its use, typically expressed annually.
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