Perry Company had the following adjusted trial balance: Account Titles Debit Credit Cash $20,480 Accounts Receivable 16,210 Supplies 7,900 35,100 Equipment Accumulated Depreciation Accounts Payable $7,200 Deferred Rent Revenue 4,820 Capital Stock Retained Earnings Dividends 1,800 27,970 23,000 16,000 Commission Revenue Rent Revenue 46,100 7,100 Depreciation Expense Utilities Expense Supplies Expense 6,000 10,900 5,400 $117,990 Total $117,990 The president of Perry 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: s What is the balance in the rent revenue account? During the closing process, what amount was transferred from the income summary account to the Retained Earnings account in the third closing entry (.e., after revenue and expense accounts have been closed to Income Summary)? What is the balance in the Retained Eamings account? SO