The ledger of Wildhorse Company contains the following balances: Owner's Capital $28,600, Owner's Drawings $2,700, Service Revenue $50,000, Salaries and Wages Expense $27,100, and Supplies Expense $7,900.

The closing entries are as follows:

(1)Close revenue accounts.

(2)Close expense accounts.

(3)Close net income/(loss).

(4)Close drawings.

Put the closing entries in the order presented in the problem and use the numbers as a reference.

Salaries and Wages Expense

Supplies Expense

Service Revenue

Owner's Drawings

Income Summary

Owner's Capital