The ledger ofBridgeportCompany contains the following balances: Retained Earnings $28,500, Dividends $3,000, Service Revenue $48,500, Salaries and Wages Expense $25,500, and Supplies Expense $7,000.

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

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enter a debit amount

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enter a credit amount

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enteradebitbalance

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enteracreditbalance

Supplies Expense

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enter a debit amount

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enter a credit amount

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enteradebitbalance

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enteracreditbalance

Service Revenue

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enter a debit amount

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enter a credit amount

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enteradebitbalance

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enteracreditbalance

Dividends

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enter a debit amount

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enter a credit amount

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enteradebitbalance

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enteracreditbalance

Income Summary

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enter a debit amount

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enter a credit amount

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enteradebitbalance

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enteracreditbalance

Retained Earnings

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enter a debit amount

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enter a credit amount

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enter a debit amount

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enter a credit amount

select an option

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enteradebitbalance

select an option

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enteracreditbalance