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The income statement for the Skysong, Inc. for the month ended July 31 shows Service Revenue $16,010, Salaries and Wages Expense $8,410, Maintenance and Repairs Expense $2.510, and Income Tax Expense $1,010. The statement of retained earnings shows an opening balance for Retained Earnings of $20,010 and Dividends $1,350. Your answer is correct Prepare closing journal entries. (If no entry is required, select "No Entry for the account titles and enter 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 Service Revenue 16010 Income Summary (To close revenue account) 16010 July 31 Income Summary 11930 Maintenance and Repairs Expense 2510 Income Tax Expense 1010 Salaries and Wages Expense 8410 (To close expense accounts) July 31 Income Summary 4080 Retained Earnings 4080 0.5/1 (To close expense accounts) Income Summary July 31 4080 Retained Earnings (To close net income/(loss) to retained earnings) Retained Earnings 4080 July 31 1350 Dividends (To close dividends to retained earnings) 1350 e Textbook and Media List of Accounts X Your answer is incorrect. What is the ending balance in Retained Earnings? Ending balance in Retained Earnings $ 1350 e Textbook and Media

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