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The ledger of Flint Company contains the following balances: Retained Earnings $28,500, Dividends $2,500, Service Revenue $51,000, Salaries and Wages Expense $25,500, and Supplies Expense

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The ledger of Flint Company contains the following balances: Retained Earnings $28,500, Dividends $2,500, Service Revenue $51,000, Salaries and Wages Expense $25,500, and Supplies Expense $7,500. The closing entries are as follows: (1) Close revenue accounts. (2) Close expense accounts. (3) Close net income/(loss). (4) Close dividends Enter the balances in T-accounts, post the closing entries, and underline and balance the accounts. Salaries and Wages Expense (2) 25,500 Supplies Expense (2) 7,500 Service Revenue (1) 51,000 Dividends Income Summary (3) Retained Earnings

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