The income statement for the Edgebrook Golf Club for the month ending July 31 shows Green Fees Earned \(\$ 16,000\), Salaries Expense \(\$ 6,200\), Maintenance Expense \(\$ 2,500\), and Net Income \(\$ 7,300\). Prepare the entries to close the revenue and expense accounts. Post the entries to the revenue and expense accounts and complete the closing process for these accounts using the three-column form of account.