The following balances appear on the books of Cedrick Owens Enterprises: Retained Earnings, $$29,700$; Dividends, $$5,000$; Income Summary, $$0$; Service Revenue, $$19,300$; Salaries Expense, $$6,200$; Rent Expense $$3,200$; and Advertising Expense, $$2,500.$ All accounts have normal balances.

Read the requirements.

Requirement $1.$ The T$-$accounts have been set up for you. Insert each account's adjusted balance as given $($denote as Adj. Bal.$)$ at December $31.$