Simmons Company had the following adjusted trial balance: Cash Required: Account Titles Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue Rent Revenue Depreciation Expense Utilities Expense Supplies Expense Total Debit $28,900 17,210 9,790 38,100 14,400 6,600 7,800 5,300 $128,100 Credit $9,600 4,390 2,110 34,400 22,700 47,700 7,200 $128,100 The president of Simmons Company has asked you to close the books (prepare and process the closing entries).

Simmons Company had the following adjusted trial balance: The president of Simmons Company has asked you to close the books (prepare and process the closing entries). Required: The president of Simmons 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