Current Attempt in Progress

The income statement for the Cheyenne Golf Club Inc. for the month ended July $31$ shows Service Revenue $$17,470,$ Salaries and

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$)$

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 $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

July $31$

$($To close revenue account$)$

July $31$

$($To close expense accounts$)$

July $31$

$($To close net income to retained earnings$)$

July $31$

$($To close dividends to retained earnings$)$

eTextbook and Media

List of Accounts

Attempts: unlimited

$($b$).$

What is the ending balance in Retained Earnings?

Ending balance in Retained Earnings $

eTextbook and Media

List of Accounts