The following balances appear on the books of Cedrick Owens Enterprises: Owens, Capital, $27,100; Owens, Withdrawals, $3,100; Income Summary, $0; Service Revenue, $19,000; Salaries Expense, $6,900; Rent Expense, $3,500; and Advertising Expense, $3,200. 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. Owens, Capital 27,100 Adj. Bal. Service Revenue 19,000 Adj. Bal. Owens, Withdrawals Adj. Bal. 3,100 Adj. Bal. Salaries Expense 6,900 Income Summary Adj. Bal. Rent Expense 3,500 Advertising Expense Adj. Bal. 3,200 Requirement 2. Post the closing entries to the accounts, denoting posted amounts as Clos. Start by closing revenues. Owens, Capital 27,100 Adj. Bal. Service Revenue 19,000 Adj. Bal. Owens, Withdrawals Salaries Expense Adj. Bal. 3,100 Adj. Bal. 6,900 Income Summary Rent Expense Adj. Bal. 3,500 Advertising Expense Adj. Bal. 3,200