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The ledger of Pina Colada Company contains the following balances: Retained Earnings $29,500, Dividends $2,000,...

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Accounting

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The ledger of Pina Colada Company contains the following balances: Retained Earnings $29,500, Dividends $2,000, Service Revenue $51,000, Salaries and Wages Expense $25,500, and Supplies Expense $6,000. The closing entries are as follows: (1) Close revenue accounts. (2) Close expense accounts. (3) Close net income/(loss). (4) Closedividends. Enter the balances in T-accounts, and post the closing entries. Salaries and Wages Expense Retained Earnings (4) Bal. (3) Bal

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