54-11 Posting closing entries directly to T-accounts Learning Objective 3 The following balances appear on the books of Sarah Simmons Enterprises: Simmons, Capital, $29,600; Simmons, Withdrawals $10,500; Income Summary, $0; Service Revenue, $24,500; Salaries Expense, $6,200; Rent Expense, $3,500; and Advertising Expense, $2,000. All accounts have normal balances. Requirements: 1. Open a T-account for each account and insert it's adjusted balance as given (denote as Adj. Bal.) at Dec. 31. 2. Post the closing entries to the accounts, denoting posted amounts as Clos. 3. Compute the ending balance of Simmons, Capital