Preparing Closing Procedures The adjusted trial balance of Parker Corporation, prepared December 31,2015, contains the following selected accounts. Adjusted Account Balances Debit Credit Service fees revenue $185,000 Interest income 4,400 Salaries expense $83,600 Advertising expense 8,600 Depreciation expense 17,400 Income tax expense 19,800 Retained earnings 85,400 a. Prepare entries to close these accounts in journal entry form. General Journal Description Debit Credit 12/31 Service fees revenue Interest income Retained earnings To close the revenue accounts. 12/31 Retained earnings Salaries expense Advertising expense Depreciation expense Retained earnings To close the expense accounts. b. Post the closing entries to the appropriate T-accounts and calculate the ending balances for each account. Retained Earnings Salaries Expense Income Tax Expense Bal. 85,400 Bal. 83,600 Bal. 19,800 Bal. Bal. Bal. Service Fees Revenue 185,000 Advertising Expense 8,600 Bal. Bal. Bal. Bal. Interest Income 4,400 Depreciation Expense 17,400 Bal. Bal. Bal. Bal