110% BE4-48 4-5 BE4-9 E4-9 BE4-8 The ladger of Weaping Willow Golf Club contains the flowing balance $10400 Service Ravenue Expenses Sand Wages Experts Maintenance & Repair Total expenses Not Income $3,200 $2.500 $10,700 $5,700 Prepare the closing entries at July 31 Recull that the purpose of the closing entries to close out the barporty account of the company Tamporary Revenue Accounts, Expense Accounts and Dividends Step 1 Identity the Temporary Accounts that this definition Servis Ravenue Stars and Wages Expense Maintenance & Repair $16.400 $8.200 $2.500 Step 2 * Create the journal entries to dose out these Ourus Given that Revenue has a natural ordt bews webwe accounts and credit the income Summe 2. Given that Expense has a natural debit balance, we will credit expense accounts and debit the income Summary 3. The resulting balance in the income summary account is cleared to retained mig 4. We also clear dividends directly to retained eaming Step Closing journal entre Credit General Journal Number above Account Titles Dobit 1 Service Revenue Income Summary Explanation: To close Service Revenue Temporary account 2 Income Summary Salaries and Wages Expanse Maintenance & Repairs Explanation to close the Expense Temporary Accounts 3 Income Summary Ratained Eamingo Explanation: To clear the income Summary Balance to Retained Eames (516.4K - $10.7K) OL Ch HW without west 1-5-20222 T 1107 BE4-48 4-5 BE-9 4.9 Explore Todes the income to Red ($18.4K-$10.7%) Stap & Panthers to the end experts counts and complete the dating processing the tracolumn form of account Account Name: Ravn Account 16,400.00 16,400.00 16.400.00 Ending balance Close to Income summary 7/30/19 Account Name: Salary and Wage Expense Account Dob 3.200.00 Ending balance Close to Income summary 3.200.00 3.200.00 700:19 Account Name: Maintenance & Repair Account PR Credit Explanation Ending balance Close to Income summary De 2,500.00 2.500.00 2.500.00 7/30/10 Account Name: Income Summary Account: PR Dobit CH Bee Date 7/30/10 7/30/19 7/30/10 Explanation Revenue posting Expense posting Close to retained eaming Account Name: Retained oaming Account PR Debe Credor Balance Data 730/19 Explanation Income summary 11 MacBook Air