The DoublHrmy Accounting System Required a Prepare the journal entrics soccwary so close the tempoeary acceunts at Deccmber 34, 2016 W hat is the balanoe in the Retainod Earnings account affer the closing catris ase postod Exercise 3-18 Reconding traactios in the gemnal jourmal and T-accounts The following events apply to Monrgomary Company foe 2016 its fst yoar of eperatin LO 3-1, 3-2 Reoeivod cash of S36,000 from the of common stock 1 Incurmed 56,500 of other operating espenss on acco Paid $21,000 ca for salaris pemsc s Collected $34,500 of Paid a 53,000 Porformed 9,500 of services Paid 85500 of the acounts peyahe Post the entris to T-accounts and determine the eding halance in each account Exercise 3-19A Prepaning a trial balance LO 3-3 Oa Decesber 31, 2016 Moran Company had the eowingcemal accoun balances i ecral ledpex. Use this information to prepare a Brial blance Salaries Experse Opeting Expe LO 3-3 Exercise 3-20A Detening the offect of ews on the triel balanc Required Explain how cach of the ellowing posting ers affacts a trial balance Stale whother the tri belance will have a higher amount after each independest enery is posted. If the posting eor cause an inequality and eplain why A 53400ged to Accounts Payable was not posd c. An 3900 dehit to Rent Expense was poiad twie credit to Uneane Reveru AS1 250 debit to Office Supplies was deited le Office Supplies Expense e. A 5360 debit so Cash was posted as a 5660 debit