Owner's Capital The ledger of Sandhill Company contains the following balances: Owner's Capital \$29,600, Owner's Drawings \$2,400, Service Revenue \$51,000, Salaries and Wages Expense \$28,900, and Supplies Expense \$6,700. The closing entries are as follows: (1) Close revenue accounts. (2) Close expense accounts. (3) Close net income/(loss). (4) Close drawings. Enter the balances in T-accounts, post the closing entries in the order presented in the problem and use the numbers as a reference. Supplies Expense Service Revenue Owner's Drawings Income Summary