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The ledger of lvanhoe Company contains the following balances: Owner's Capital $30,700, Owner's Drawings $1,500, Service Revenue $51,000, Salsries and Wages Expense $26,000, and Supples

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The ledger of lvanhoe Company contains the following balances: Owner's Capital $30,700, Owner's Drawings $1,500, Service Revenue $51,000, Salsries and Wages Expense $26,000, and Supples Expense $6,000. The closing entries are as follows: (1) Close reverwe accounts. (2) Close expense accounts (3) Closenet income/tioss. (4) Close drawinks. Enter the balances in T-accounts, post the closing entries in the order presented in the poblem and use the numbers as a cefference. Salaries and Wages Expense Supplies Expense Service Revenue Owner's Drawings Income Summary Owner's Capital

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