Attempts: 0 of 3 used Closing entries at the end of year, Posting Entries in Ledgers: date : 31-07, balance on right side is balance brought down after closing the account and that balance is transferred to retained earnings account. $710 on right side is balance c/d and balance on left side $710 is balance b/d and is transferred to retained earnings. income summary account balance and dividends are transferred to retained earnings account are remaining balance is $4380. Explanation Please refer to solution in this step. Depreciation Expense on right side ($210) is balancing figure and balance on left side ($210) is brought down balance and is transferred to income summary account. Insurance Expense on right side ($180) is balancing figure and balance on left side ($180) is brought down balance and is transferred to income summary account. Salaries and Wages Expense on right side ($2,830) is balancing figure and balance on left side ($2,830) is brought down balance and is transferred to income summary account. osting the Journal entries to Ledgers Service revenue balance on left side is balancing figure ($9,330) and balance on right side ($9,330) is brought down balance and is transferred to income summary account. Maintenance and Repairs Expense on right side (\$ 340 ) is balancing figure and balance on left side ($340) is brought down balance and is transferred to income summary account