Brief Exercise 4-05 Your answer is partially correct. Try again The ledger of Sheridan Company contains the following balances: Owner's Capital $29,900, Owner's Drawings 51,900. 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 (2) Close expense accounts (3) Close net income/loss) (4) Close drawings Post the closing entries in the order presented in the problem and use the numbers as a reference Salaries and Wages Expense 20600 Bal 25600 Supplies Expense 7000 7000 Service Revenue 51000 51000 Owner's Drawings OM 2/21 . - to search Supplies Expense Bal. 7000 (2) 7000 Service Revenue > > (1) 51000 Bal. 51000 Owner's Drawings > Bal. 1900 (4) 1900 Income Summary (2) 35600 51000 > > > (3) 15400 Total 51000 Total 51000 Owner's Capital > x 1900 Bal. (3) 15400 x Total 1900 Total