The ledger of Pronghorn Company contains the following balances: Retained Earnings $30,000, Dividends $3,000, Service Revenue $50,000, Salaries and Wages Expense $27,000, and Supplies Expense $8,000. Prepare the closing entries at December 31. (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 O for the amounts.) Date Account Titles and Explanation Dec. 31 Rent Revenue Service Revenue (To close revenue account) Debit 27000 Dec. 31 Salaries and Wages Expense Dec. 31 Supplies Expense Income Summary (To close expense accounts) Dec. 31 (To close net income/ (loss)) (To close dividends) 8000 Credit 50000 35000