Question 3 of 7 < > 8.17/10 The income statement for the Sage Hill Inc. for the month ended July 31 shows Service Revenue $19,040, Salaries and Wages Expense $9.460. Maintenance and Repairs Expense $2,930, and Income Tax Expense $1,300. The statement of retained earnings shows an opening balance for Retained Earnings of $24,810 and Dividends $1,760. Your Answer Correct Answer Your answer is partially correct. Prepare closing journal entries. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation July 31 Service Revenue Income Summary (To close revenue account) July 31 Income Summary Salaries and Wages Expense Debit Credit