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Current Attempt in Progress The ledger of Ivanhoe Company contains the following balances: Owner's Capital $30,700, Owner's Drawings $1,500,5ervice Revenue $1,000, $slaries and Wages Expense

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Current Attempt in Progress The ledger of Ivanhoe Company contains the following balances: Owner's Capital $30,700, Owner's Drawings $1,500,5ervice Revenue $1,000, \$slaries and Wages Expense $26,000, and $ upplies Expense $6,000. The closing entries are as follows: (1) Close revenue accounts. (2) Close expense accounts. (3) Close net income/loss): (4) Closedrawings. Enter the balances in T-accounts, post the closingentries in the order presented in the problem and use the numbers as a reference

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