up, 136 Help System Announcements CALCULATOR PUNTER VERSION BACK Brief Exercise 4-05 Your answer is partially correct. Try again. The ledger of Ivanhoe Company contains the following balances: Owner's Capital $30,700, Owner's Drawings $1,500, Service Revenue $51,000, Sataries 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/loss). (4) Close drawings Post the closing entries in the order presented in the problem and use the numbers as a reference. Salaries and Wages Expense Bal. 26,000 (2) 26,000 Supplies Expense Bal. 6,000|||(2) 6,000 Service Revenue 51.000 51,000 Bal Owner's Drawings Bal 1,500 1.500 Income Summary 6,000 51000 25,000 19,000 50 000 Owner's Capital 1.500 3000 * to search Income Summary X (2) 6,000 (1) 51,000 26,000 Total 19,000 X Bal. V 51,000 Owner's Capital X 1,500 (3)