T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the t-accounts and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Use the acronym for closing entries as post references and include Bal. references where appropriate. For the Income Summary account, calculate and enter the Balance (Bal.) before posting the entry to close out the account. Date Debit Credit Accounts and Explanation Credit Accounts and Explanation Service Revenue Service Rever Date Dec 31 Debit 69,000 Dec 31 150,000 Income Summary Income Summary 150,000 Retained Carnings 69,000 To close Revenue To close Income Summary Date Accounts and Explanation Credit Date Accounts and explanation Credit Debit 18,000 Debit 81,000 Dec. 31 Retained Carnings Dec. 31 Income Summary Dividends 18,000 Depreciation Expense Furniture 13,000 To close Dividends Interest Expense 18,000 Rent Expense 8.000 Salaries Expense 15,000 Supplies Expense 27,000 To close Expenses Depreciation Expense-Furniture Rent Expense Adj. Bal 13,000 Adj. Bali 8,000 Bal V II Dividends Service Revenue Adj. Bal 18,000 150,000 Adj. Bal. Interest Expense Salaries Expense Ad Dal 18,000 Adj. Bal 15,000 Bal BaLV Retained Carnings Income Summary 39,000 Adj. Bal. Supplies Expense Adj. Dal Adj. Bali 27,000 n 27,000 v