Question 5 The ledger of Monty Company contains the following balances: Retained Earnings TRY28,280; Dividends TRY1,043; Service Revenue TRY49,260; Salaries and Wages Expense TRY27,596; and Supplies Expense TRY7,283. Prepare the closing entries at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. (To close revenue account.) 2. (To close expense accounts.) 3. (To close net income/ (loss).) 4. (To close dividends.) Enter the balances in T-accounts, post the closing entries, and underline and balance the accounts. Salaries and Wages Expense Supplies Expense Service Revenue Dividends Income Summary Retained Earnings