The adjusted trial balance as of December 31 for Hanlon Consulting contains the following selected accounts.

Prepare entries to close these accounts in journal entry form. Set up T-accounts for each account and record the adjusted trial balance amount in each account. Then, post the closing entries to the T-accounts. After these entries are posted, what is the balance of the Retained Earnings account?

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Service Fees Earned Rent Expense... Salaries Expense. Supplies Expense... Depreciation Expense Retained Earnings Debits $20,800 48,700 5,600 10,200 Credits $80,300 67,000