The ledger of Monty Company contains the following balances: Retained Earnings $29,500, Dividends $1,500, Service Revenue $51,500. Salaries and Wages Expense $26,500, and Supplies Expense $6,000. The closing entries are as follows: (1) Close revenue accounts. (2) Close expense accounts. (3) Close net income/lloss). (4) Close dividends. Enter the balances in T-accounts, post the closing entries, and underline and balance the accounts. Salaries and Wages Expense Bal. V 26500 26500 Supplies Expense 6000 (2) 6000 Service Revenue (1) 51500 Bal. V 51500 Dividends Bal. 1500 Income Summary (2) 32500 V 51500 (3) 19000 Retained Earnings 1500 29300 V 19.000 Bal. 47000