PART 10: Post and Close All Accounts Post the closing entries to the general ledger in RED order and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Date Accounts Debit Credit Dec. 31 Service Revenue 22,700 Retained Earnings 22,700 Date Accounts Debit Credit Dec. 31 Retained Earnings 8,385 Salaries Expense 5,500 Depreciation Expense - Furniture 300 Insurance Expense 375 Utilities Expense 240 Rent Expense 1,900 Supplies Expense 70 Date Accounts Debit Credit Dec. 31 Retained Earnings 4,400 Dividends 4,400 Service Revenue Account No. 410 Date Explanation Ref. Debit Credit Balance Beg. Balance 0 Dec. 12 Performed services for cash J1 2,800 2800 Dec. 15 Performed services on account J1 4,700 Dec. 20 Performed services for cash J1 8,100 Dec. 28 Performed services on account J1 700 Dec. 31 Adjusting Entry J1 100 Dec. 31 Adjusting Entry J1 1,300 Bal. Close Revenues J1 Depreciation Expense - Furniture Account No. 510 Date Explanation Ref. Debit Credit Balance Beg. Balance 0 Dec. 31 Adjusting Entry J1 300 300 Bal. Close Expenses J1 300 Salaries Expense Account No. 5 Date Explanation Ref. Debit Credit Balance Beg. Balance 0 Dec.18 Paid Salaries J1 3,500 3500 Dec. 31 Adjusting Entry J1 2,000 1500 Dec. 31 Close Expenses J1 5500 5500