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what is ending balance in retained earnings? Date July 31. Debit Credit 17510 17510 July 31. Account titles and explanation Service revenue Income summary (To

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what is ending balance in retained earnings?
Date July 31. Debit Credit 17510 17510 July 31. Account titles and explanation Service revenue Income summary (To close revenue account) Income summary Salaries and wages expense Maintenance and repairs expense Income tax expense (To close expense accounts) Income summary Retained earnings (To close net income/(loss) to retained earnings) Retained carnings Dividends (To close dividends to retained earnings) 14230 9760 3070 1400 July 31. (Note:1) 3280 3280 July 31. 1660 1660 Note: 1 Net income/loss) $ $ 17510 9760 Service revenue Less: Salaries and wages expense Maintenance and repairs expense Income tax expense Net income 3070 1400 14230 3280

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