Current Attempt in Progress

The ledger of Pronghorn Company contains the following balances: Retained Earnings $$30,500,$ Dividends $$3,000,$ Service Revenue $$51,500,$ Salaries and Wages Expense $$28,000,$ and Supplies Expense $$6,500.$

The closing entries are as follows:

$(1)$ Close revenue accounts.

$(2)$ Close expense accounts.

$(3)$ Close net income$/($lo$55).$

$(4)$ Closedividends.

Enter the balances in T$-$accounts, post the closing entries, and underline and balance the accounts.

Salaries and Wages Expense

Service Revenue

Dividends

Income Summary

Retained Earnings