S4-5 Posting closing entries directly to T-accounts It is 30 June and time for your business to close the books. The following balances appear on the books of Sarah Simon Enterprises: a Drawings, $8500. b Service revenue, $23700. c Expense account balances: Salary, $6100; Rent, $4000; Advertising, $3300. 2 Requirements 1 Set up each T-account given and insert its adjusted balance as given (denote as Bal) at 30 June. Also set up a T-account for Simon, capital, $26100, and for Income summary. 2 Post the closing entries to the accounts, denoting posted amounts as Clo. 3 Calculate the ending balance of Simon, capital