The adjusted trial balance of Parker Corporation. prepared December 31, 2018. contains the following selected accounts.

a. Prepare entries to close these accounts in journal entry form.

b. Set up T-accounts for each of the ledger accounts, enter the balances above. and post the closing entries to them. After these entries are posted, what is the post-closing balance of the Retained Earnings account?

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Adjusted Account Balances Debit Credit Service fees revenue. $92,500 2,200 .... Interest income... Salaries expense . $41,800 4,300 Advertising expense. Depreciation expense.. Income tax expense. Retained earnings ..... 8,700 ... .. 9,900 .... 42,700