The adjusted trial balance of Sara's Web Services follows: 
(a) Prepare the closing entries for Sara's Web Services.
(b) What is the balance of Sara's capital account after the closing entries are posted?
Definitions:
Indefinite Future Time
A period that has no specified end date.
Unconditional Promise
An unconditional promise is a firm commitment or pledge made by one party to another, without any stipulations or conditions attached.
Check-clearing Process
The method through which banks collect and settle the amount of a check, transferring funds from one account to another.
Movability
The characteristic of an asset that allows it to be transferred or moved from one location to another.
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