The income statement for Salt Creek Golf Club for the month ending July $31$ shows Service Revenue $$15,600,$ Salaries and Wages

Expense $$9,000,$ Maintenance and Repairs Expense $$2,600,$ and Net Income $$4,000.$

Prepare the entries to close the revenue and expense accounts. $($Credit account titles are automatically indented when amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

July $31$

$($To close revenue account$)$

July $31$

$($To close expense accounts$)$