The ledger of Wildhorse Company contains the following balances: Owner's Capital $28,600, Owner's Drawings $2.700, Service...

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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. Enter the balances in T-accounts, post 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 Salaries and Wages Expense Supplies Expense Service Revenue Owner's Drawings Income Summary Owner's Capital eTextbook and Media 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. Enter the balances in T-accounts, post 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 Salaries and Wages Expense Supplies Expense Service Revenue Owner's Drawings Income Summary Owner's Capital eTextbook and Media

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Posting to salaries and wage expense Salary and wages expense Amount Date Date Balance Particul... View the full answer