Your Answer Correct Answer The ledger of Sheridan Company contains the following balances Owner's Capital $29.900, Owner's Drawings $1,900, Service Revenue $51,000, Salaries and Wages Expense $28,600, and Supplies Expense $7,000 The closing entries are as follows: (1) Close revenue accounts. Close expense accounts. Close net income/(loss). (4) Close drawings (2) (3) Salaries and Wages Expense Supplies Expense Service Revenue Owner's Drawings Income Summary Owner's Capital a