Knowledge Check Question 10 Griffin Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable S20,790 15,940 9,370 40,500 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue S8,800 4.290 2,490 21,520 22,400 13,400 54,200 6,600 Rent Revenue Depreciation Expense Utilities Expense 6,900 8.200 5,200 S120,300 Supplies Expense Total S120,300 I Don't Know Submit e here to search BI Question 10 Supplies Expense Total 5,200 S120,300 $120,300 The president of Griffin Company has asked you to close the books (prepare and process the closing entries). Required: After the closing process has been completed, answer the following questions: SO What is the balance in the depreciation expense account? During the closing process, what amount was transferred from the income summary account to the Retained Earnings account in the third closing entry (i.e., after revenue and expense accounts have been closed to Income Summary)? SO What is the balance in the Retained Earnings account? ? I Don't Know Submit