BE4.17 (LO 4), AP The income statement for the Bonita Pines Golf Club Inc. for the month ended July 31 shows Service Revenue $16,000, Salaries and Wages Expense $8,400, Maintenance and Repairs Expense $2,500, and Income Tax Expense $1,000. The retained earnings statement shows an opening balance for Retained Earnings of $20,000 and Dividends $1,300. a. Prepare closing journal entries. b. What is the ending balance in Retained Earnings? REA 19 404) V

BE4.17 (LO 4), AP The income statement for the Bonita Pines Golf Club Inc. for the month ended July 31 shows Service Revenue $16,000, Salaries and Wages Expense \$8,400, Maintenance and Repairs Expense \$2,500, and Income Tax Expense \$1,000. The retained earnings statement shows an opening balance for Retained Earnings of $20,000 and Dividends $1,300. a. Prepare closing journal entries. b. What is the ending balance in Retained Earnings