Prepare closing journal entries. $($List all debit entries before ct$?$dit entries. If no entry is required, select $"$No Entry" for the

account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered.

Do not indent manually.$)$

Question $2$ of $2$

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The income statement for the Sarasota Golf Club Inc. for the month ended July $31$ shows Service Revenue $$17,120,$ Salaries and

Wages Expense $$9,470,$ Maintenance and Repairs Expense $$3,430,$ and Income Tax Expense $$1,060.$ The statement of retained

earnings shows an opening balance for Retained Earnings of $$24,930$ and Dividends $$2,040.$

$($a$)$

Your answer is partially correct.

Prepare closing journal entries. $($List all debit entries before ctedit entries. If no entry is required, select $"$No Entry" for the

account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered.

Do not indent manually.$)$