C. Posting closing entries directly to T-accounts 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 thave normal balances. Post the closing entries to the T-accounts and calculate their balances