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The ledger of Ivanhoe Company contains the following balances: Owner's Capital $30,700,0 wner's Drawings $1,500, Service Revenue $51,000, Salaries and Wages Expense $26,000, and Supplies

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The ledger of Ivanhoe Company contains the following balances: Owner's Capital $30,700,0 wner's Drawings $1,500, Service Revenue $51,000, Salaries and Wages Expense $26,000, and Supplies Expense $6,000. The closing entries are as follows: (1) Close revenue accounts. (2) Close expense accounts. (3) Close net income/lioss). (4) Close drawings. Enier the bulances in Taccounts. post the closingentries in the order presented in the problemand use the numbers as a reference

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