WileyPlus Question 3 of 6 < > 0.5/1 The income statement for the Cheyenne Golf Club Inc. for the month ended July 31 shows Service Revenue $17,470, Salaries an Wages Expense $8,870, Maintenance and Repairs Expense $3,370, and Income Tax Expense $1,470. The statement of retained earnings shows an opening balance for Retained Earnings of $20,520 and Dividends $1,760. (a) Your answer is correct. Prepare closing journal entries. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entere Do not indent manually.) Date: Account Titles and Explanation July 31 Service Revenue Income Summary (To close revenue account) July 31 Income Summary Salaries and Wages Expense Maintenance and Repairs Expense Income Tax Expense (To close expense accounts) July 31 Income Summary Debit 17470 13710 3760 Credit 17470 8870 3370 1470 (b) What is the ending balance in Retained Earnings? Ending balance in Retained Earnings $ eTextbook and Media List of Accounts