The following balances appear on the books of Sarah Simmons Enterprises: Retained Earnings, $$27,400$; Dividends, $$5,200$; Income Summary, $$0$; Service Revenue, $$20,000$; Salaries Expense, $$6,900$; Rent Expense $$3,200$; and Advertising Requirements

The T$-$accounts have been set up for you. Insert each account's adjusted

balance as given $($denote as Adj. Bal.$)$ at December $31.$

Post the closing entries to the accounts, denoting posted amounts as Clos.

Compute the ending balance of Retained Earnings.

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 $31.$