Attempts: 0 of 3 used 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 cld 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. zatng to youmarienes is Ledgens figie ($9300) and balarce on mphe siale (ts 2.290) it peocight down baimoe and is tranatarned to income suminaly acectiont. 3 to is belancing figare and bulance on wht scle incume mamenary boosort. bularee ard is trarshered ts income surmaty acrount Dnprecialon Expecoe on nght finde 122190 is balanoing foure and balscen on leit nide fstelei is birought down bolyce and is transemeg 29 income Butimary woount. intarace Expeese on right sido (t1B) = boianeng Baiknce and is transtested to income nuntury aconunt. Saiarles and Wapes Erperse on right aige {22 agdil in batanging figere and balance on int lade 112.830) is tommsy ascoint. Explanation Pisase reler in sobsition in thit stop. Closing entries at the end of year, Explanation closing entries are made at the end of accounting year to zero all temporary accounts and transfer to temporary account called "Income Summary A/c " and income summary balance is transferred to Retained earnings. 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