T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the t-accounts and calculate ending balances for all accounts. For accounts that have a zero balance, enter the zero on the normal balance side. Use the acronym for closing entries (REID) as post references and include Bal. references where appropriate. For the Income Summary account, calculate and enter the Balance (Bal.) before posting the entry to close out the account

Date Accounts and Explanation Debit Credit Date Accounts and Explanation Debit Credit Dec. 31 Service Revenue 25,200 Dec. 31 Income Summary 9,000 Income Summary 25,200 Salaries Expense 5,100 Depreciation Expense - Furniture 200 Insurance Expense 450 Utilities Expense 350 Rent Expense 2,800 Supplies Expense 100 Date Accounts and Explanation Debit Credit Date Accounts and Explanation Debit Credit Dec. 31 Income Summary 16,200 Dec. 31 Retained Earnings 2,300 Retained Earnings 16,200 Dividends 2,300Retained Earnings Dividends 0 Bal. Bal. 2,300 V Income Summary Service Revenue 25,200 Bal. V V V Cash Accounts Receivable Bal. 49,950 Bal. 1,800 V V VOffice Supplies Prepaid Insurance Bal. 400 Bal. 1,350 V V Furniture Accumulated Depreciation - Furniture Bal. 9,300 200 Bal. V V Salaries Expense Depreciation Expense - Furniture Bal. 5,100 Bal 200 V V V Insurance Expense Utilities Expense Bal. 450 Bal. 350 V VRent Expense Supplies Expense Bal 2,800 Bal. 100 V Salaries Payable Unearned Revenue V 4,000 Bal. V 5,500 Bal. V V Common Stock V 39,200 Bal. V V